All Forum Posts by: Cameron Ellis

thanks everyone, 60/90 daysvis entirely to long to hold a property. my contract is 30 days. But with these properties they should move very quickly. The seller which is my closing attorney is wanting to liquidate them before the end of the month

What is your investment style?(SFH,duplex) from my experience of investing in Memphis realtors aren't as knowledge as the investors. Realtors are just teir to sell you a property I would say. First find a investor, build a relationship and see where they invest.

I have a purchase contract on 5 properties, w/ a selling price of 700k in the suburban outskirts of Memphis. I have spoke with a couple of potential buyers and thy seem interested. I received a call tonight from a gentleman wanting to put a option contract and also a non disclosure contract on the properties for 60-90 days. This will take away all right for me to market this property and sell it if a serious buyer comes before those 60-90. This gentleman said during that time he will market the property to his potential investors which immediately rung a bell. I have no problem working with other wholesalers I actuall love it but for someone to put a hold on a property for that long is crazy. Bp what would you suggest I do

@Jon Holdman of course. So far the hardest part is understanding who/ how to assign the contract over

Ned is right! I tell the sellers I am a investor purchasing properties in the neighborhood and I am interested into buying theirs. You never have to tell a seller that you are a wholesaler!

@Richard Harris I am actually working a 2.3Mil dollar bulk package myself and the buyers are out of Detroit. any questions feel free to ask. I'm learning as I am going. We are now in the process of accepting a acceptable LOI. I have figured the rest of the deal out, just by speaking with my closing attorney

I agree Dave, many of the investors I deal with only stick to 1 market. My question is what happens when that market fails? I see this with alot of older investors, that 1 market they have invested all their money fails and their left to digg or sell their way out usually just breaking even.

Memphis is #1

I would apply Warren Buffets approach, by not putting all your eggs in one basket. What happens if the Kansas City market begins to decline? I don't know much about KC, and what properties are going for their there. But I can pretty much bet, they are not beating Memphis rental rates, or purchase prices.

Charles if you are looking into the Memphis market, I have a couple bulk packages that cash flow great income, at cap rates above 13%. I am looking o expand my buyers list outside of Memphis