All Forum Posts by: Christopher Ramirez Babinski

Christopher Ramirez Babinski has started 6 posts and replied 20 times.

@matthew When do you usually start contacting contractors for your job?

Chris

0 Votes

Hi everyone!

I wanted to know how you would go about finding a contractor.

I thought I found a good contracting team, only to have that side swipe me. So, back to the drawing board and I close in a week and a half. Help! Where do YOU go for a contractor?

Thanks!

Chris

0 Votes

Spokane, Washington

This is all good info. Thanks.

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I understand that, and I agree. I have several homes that I do own in my area, but am looking to reach into areas where 1 or 2 bedroom homes are not a dime a dozen like markets in Memphis or in other southern states, which is why I'm looking into doing this in areas like Spokane, WA, Seattle, WA, Portland, OR, etc.

Are you familiar with these markets?

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Hey PMs,

I have recently discovered that a common short term rental strategy is to long term rent someone's space (house, apt, etc) and use it to sublet to others in short term renting. I want to do this with my business for traveling nurses and doctors. I sent out some emails, but haven't heard back (which is something that I was expecting). As PMs, what are your recommendations to sign some rental agreements with these property management companies and/or renters?
Follow up: How would you go about finding renters who would be willing to do this?
Thanks in advance!

Chris Ramirez
Pulse Property Management

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Quote from @Chris Clothier:

Quote from @Christopher Ramirez Babinski:

Hello everyone!
I'm genuinely curious, has anyone found any success in the Memphis, TN area for specifically BRRRR-ing? I'm curious because the market that I'm used to is investing 220k on a run down home and refi the house for 350-400k. Memphis is really outside of my experience with homes between 20-50k.

What are the thoughts of people who are familiar with this area? Do I avoid or start investing?

Thanks!

I am going to second what James Wachob said. From your post, it sounds like you are an experienced investor, so you probably don't need my warnings or advice. I doubt (hopefully) that you will fall for rosy numbers and sales techniques. Again, hopefully, you have enough experience to dig deep, proceed with caution, and not be in a hurry.

Too often, investors rely on others or their "team," and they abdicate too many of their responsibilities. The most significant responsibility is to question everything. Ensure you thoroughly understand the market, the risks, and the reasons behind a deal that appears to be a good fit. You have to ask why a deal that pencils so well sits, waiting for an out-of-town investor to buy it.

Memphis is absolutely packed with active investors. So, when you see BRRRR deals at low price points relative to where you live, you have to ask why?. Memphis has homes that appear to be low-cost (often mistaken as low-risk) when compared with other areas, and specifically with cities where investors reside. However, they are not low-cost relative to the location of the house, and Memphis is very risky at the low-price points. An $80,000 home in Memphis may be wildly over-priced, which is why local investors are not buying.

Just be smart. It is not as easy as it is sometimes portrayed, and probably not nearly as difficult as I am making it sound for an experienced investor who knows how to run an out-of-state project. Connect with someone locally who can assist you, keep your responsibility in-house, and hold whomever you work with accountable to your expectations, and you should be fine.

Chris, I really appreciate this post. This is if nothing else, very validating. I am currently building a memphis team(s). I may be taking two teams at a time to verify everything I'm hearing/seeing. Thank you again for the advice and the post. I truly appreciate it!

1 Vote

Spokane, Washington

Quote from @Jordan Ray:

Quote from @Christopher Ramirez Babinski:

Thanks!

Hey! I’m active in the Memphis market and have personally done BRRRRs here, so I can give you a boots-on-the-ground perspective.

Yes—Memphis absolutely works for BRRRR, but it's a very different game than what you're describing. You're not going to see those same high price spreads like 220k → 400k, but what you will find is strong cash-on-cash returns and low entry costs, especially in the $50k–$115k acquisition range.

The key here is understanding hyper-local pockets. Some zip codes (like 38127, 38109, 38116, 38118, 38122, 38111 etc.) are investor-heavy, but you need to vet contractors closely and know your resale/refi values down to the street.

A typical play here might be:

Purchase: $80k
Rehab: $40k
All in: $125k
ARV: $190k–$210k
Rents: $1500–$1750 (Section 8)
Cash flow ~ $250–450/mo

It’s 100% doable. That said, if you’re trying to build a portfolio with velocity, Memphis is a top-tier city to scale quickly. Happy to share more if you’re seriously considering it. Good luck!

Jordan! This is EXACTLY what I was hoping to see! This is GREAT news!!!

Thank you for sharing this! If you don't mind, I would love to connect with you and talk to you more about this market. I'm so interested in it, because it's so different than where I live (Seattle area). Thank you for taking the time to reach out!

1 Vote

Spokane, Washington

Thank you for saying that. I would just use cash so it would take the lender out of the equation. But, I am worried about not making money in those neighborhoods that I am looking at. I need someone who knows the area and knows the market. I'm hoping to find them here.

1 Vote

Spokane, Washington

Thanks!

5 Votes

Spokane, Washington

I have been using AI to build comps of a new area, calculate my math when looking into an investment property, writing letters to investors, agents, PMs, and colleagues, as well as my business logo, business cards, and all of my business system setups.

I literally open my AI before I even pull up my email. I rely on it to do quite a bit for my business. I even use it to look up names, addresses, hours of operation, etc. I use it for everything! Haha, that being said I also pay a monthly rate for my AI. I find chatGPT to be the best, though Claude AI is what my business partner uses.

Let me know if there's something else that I should be using it for! It all seems to be pretty accurate with regard to real time data.

1 Vote

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All Forum Posts by: Christopher Ramirez Babinski

Christopher Ramirez Babinski has started 6 posts and replied 20 times.

Post: Got my first BRRRR, wahoo! Now to find contractors....?

Post: Got my first BRRRR, wahoo! Now to find contractors....?

Post: Property Managers: What's your take?

Post: Property Managers: What's your take?

Post: Property Managers: What's your take?

Post: Memphis Market....what are your thoughts?

Post: Memphis Market....what are your thoughts?

Post: Memphis Market....what are your thoughts?

Post: Memphis Market....what are your thoughts?

Post: What are some other ways you're using Artificial Intelligence (AI) in Real Estate?