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All Forum Posts by: Dean Harris

Dean Harris has started 335 posts and replied 664 times.

Post: Reintroducing myself to the BP community again!

Dean Harris
#4 Classifieds Contributor
Posted
  • Real Estate Agent
  • Memphis, TN
  • Posts 1,272
  • Votes 1,336

Welcome @Gurshan Bansal

I own a large portfolio of SF rental properties in Memphis and Im always looking to grow and connect with other like minded investors. Im happy to share how I was able to scale my portfolio. 

Talk soon!

Post: Mid South Turnkey Homes. Should I invest with this Memphis turnkey?

Dean Harris
#4 Classifieds Contributor
Posted
  • Real Estate Agent
  • Memphis, TN
  • Posts 1,272
  • Votes 1,336
Quote from @Nida Kazmi:
Quote from @Alex Cables:

I was speaking to Ashley Smith from Mid South Turnkey Homes today. Very nice lady. They say that they focus on the BRRR method, they handle the rehab (usually 90 days) and manage the properties. They find homes in C to be neighborhoods and rent to section 8 renters. They don't charge a management fee as long as you buy a home from them every year. They charge 8% if you don't.
She made it very clear that they are not Mid South Home Buyers. And unlike MSHB they don't have a 6 month waiting list. 

I am trying to look them up and I don't see any reviews on line and nothing with the BBB. 
Anyone else have any luck finding info on them?

I had my lawyer look into them (as much as possible) and review their contracts. Suggest you do the same (even if they are two page documents). Jason Hartman and team referred me and is currently happy with them so I would say they're a safe bet. I also spoke to Kenny Shaw, who heads Mid South Turnkey Homes. He was very open and amenable to any changes I may propose to their contracts (pending their own counsel review). 


I would NOT invest in the following TN zip codes: 38106, 38126 and 38114. A Lot of turnkeys are going to these undesirable spots and its highly possible you'll end up with more liability with turnover rehab requirements. @Douglas Skipworth and Dean Harris of Crestcore have a great podcast and a video outlining all the zip codes in TN as well. And for that matter, Dean puts out a great list of SFH, connect with them and you'll get the emails.


Thank you @Nida Kazmi

Im happy to share my podcast info where I break down every Memphis investment zip code with anyone. I own a large portfolio of single family properties and all of my info I give out comes from my personal investing expierence. 

Talk soon!

Post: Starting Out in Real Estate Investing

Dean Harris
#4 Classifieds Contributor
Posted
  • Real Estate Agent
  • Memphis, TN
  • Posts 1,272
  • Votes 1,336

Welcome, Juan!

I own a few rentals in Southaven myself. Its interesting what the county is doing with the new tax on landlords. Happy to connect and answer any quetions you may have. I also have a large portfolio of long term rentals in Memphis as well in case you are interested in this market. 

I also break down all the investment zip codes ncluding DeSoto COunty, MS in my weekly podcast on Youtube. Happy to share that info as well

Best of luck and talk soon!

Post: New Investor - Looking for BRRRRs (Anywhere in U.S.A)

Dean Harris
#4 Classifieds Contributor
Posted
  • Real Estate Agent
  • Memphis, TN
  • Posts 1,272
  • Votes 1,336

Hi @Wayne B. Welcome to BP!

I personally BRRRR'd 16 houses in Memphis last year. Im happy to answer any quetions you may have based on my personal expierences.

Good Luck!

Post: Evaluating a property listed by a turnkey in Memphis

Dean Harris
#4 Classifieds Contributor
Posted
  • Real Estate Agent
  • Memphis, TN
  • Posts 1,272
  • Votes 1,336

You are likely paying too much if its a true Turnkey property. Memphis is full of BRRRR opportunites an you can end up with the same product.

Good Luck

Post: Real Estate Categories

Dean Harris
#4 Classifieds Contributor
Posted
  • Real Estate Agent
  • Memphis, TN
  • Posts 1,272
  • Votes 1,336

I own sveral rentals in DeSoto County. (Southaven, Olive Branch and Horn Lake). There are some ins and outs of that area you should know about for sure but you can find deals there and the tenant base is way above average in about 90% of the county. 

Im happy to answer any questions you may have based on my personal expeirences 

Post: Looking for a mentor…

Dean Harris
#4 Classifieds Contributor
Posted
  • Real Estate Agent
  • Memphis, TN
  • Posts 1,272
  • Votes 1,336

@Nora Lugo

Be careful who you trust to be your "mentor". Especially in Memphis, TN. I would make sure your property source or agent owns a portfolio of rental proeprty. Selling you a product is easy but relating to you based on their personal expierence is not. This will provude you the type of "mentorship" you are looking for. That person will be abe to educate you on all areas of investing in that city. The questions you are asking in your post here should already be answered for you through your property source or agent. Either way, no matter who you work with, make sure they currently own 20-30+ rental proeprties so they can provide true guidence vs selling you a product. 

Good Luck! 

Post: OFF MARKET 9-unit multifamily in Memphis - 8 cap rate

Dean Harris
#4 Classifieds Contributor
Posted
  • Real Estate Agent
  • Memphis, TN
  • Posts 1,272
  • Votes 1,336

What is the zip code? I think I have seen this deal floating around

Post: Looking for counties that meet the 1% rule

Dean Harris
#4 Classifieds Contributor
Posted
  • Real Estate Agent
  • Memphis, TN
  • Posts 1,272
  • Votes 1,336

@Kathy Diamond

I sourced about 12-13 houses that met the 1% Rule here in Memphis. I am seeing more and more of these as well. Im happy to send you some options

Post: Looking to buy first rental property

Dean Harris
#4 Classifieds Contributor
Posted
  • Real Estate Agent
  • Memphis, TN
  • Posts 1,272
  • Votes 1,336

I own a large portfolio here in Memphis. I am happy to share my exoierences with you. We have several reliable optins including the BRRRR & 1% Rule houses. I typically BRRRR!!

Good Luck!