All Forum Posts by: De Rasche

Check with your insurance person.

Check the turn over rate and that may help you know the drama included.  Hopfully retired long term tenants.

Nothing beats walking through and looking for signs of high "drama"

I lived in one unitl married and my future wife's prenuptual request to me was "no house on wheels"  

My sister is a decorator and last I recall she suggestd was dove white.  If a rental might ck out hazy skies cut in half as repainting white walls every tenant is likely.

Whatever you use, do all your rentals the same is our motto.

Ceilings are flat, walls eggshell, trim semi gloss latex.

Might see if nearby raw land for sale that is zoned the same, especailly if this is a tear down.

Your local closing attorneys or title folks should be a resource for who is clsoing the type properties you are looking for.

Fella we use the most (thus a relationship) closes for several investors and we network through him.

They can then see if there is interest on their part for mentoring and you might briefly have in mind/share what mentoring means to you.  For example, is that you buying lunch once a week or so to get input on your plan or what?   Best of luck and good plan to have a mentor.

Just my two cents, but for your first deal please consider close to your home.  You will learn more by meeting everyone at the home from inspectors to renovation trades to screening renters.  You are paying most of these folks, so I pester them for info and learn.  Invaluable and I can't get that by a phone call to another city verses I am there following them around.

Akhil,

Memphis lists crime by neighborhoods:  https://mdsas.memphispolice.or...

Check the tn sex registry, this info has nixed a few deals for me.

Meet the neighbors.  You can cut down a tree, but the neighbors stay after you close.  

Memphis has lots of good folks.

With the feeding frenzy we have now you may not have the luxury of much due diligence.  So the more you can do to create a filter for the neighborhood/street before it hits the market the better.

Yves, Zip codes outside the city proper, if you can find something, are less drama and in path of growth (appreciation).

Yves, My nephew works for Memphis Invest and he is one of my "good judge of companies" nephews.  We personally have never used them as we self manage and pick areas and rent levels to lessen the drama.   

Just outside of Memphis is an industrial complex boom going on.  Volvo, Amazon, Post, kellogs, Michelin tire, etc have all built and a supersite coming trough the process also.  Regardless of the area you settle on, find jobs coming along with highways, rail and schools and postion your investment in that path.  You will then have appreciation with your long term hold.

You are ocrrect, Memphis is rapidly catching up on appreciation.  We are not having an influx of people like Nashville, but just the scarcity and "out of area investors" may be helping the change.  We are seeing hedge fund buyers outbidding locals as soon as homes hit the market,  Agree with suggestion above to get a team in place so you do not stall out with subs on the repair.  With the eveiction moratorium being removed, the subs are busy turning over homes.  Memphis Invest is one of teh turn key groups here and many others.