All Forum Posts by: Douglas Skipworth

Hi, @Account Closed.

Any particular areas, types of investments, or specific companies you want feedback on?

Memphis can be the best market in the world, but it can also be very challenging if you are not intentional on the front end.

We manage properties (mostly single family, duplexes, and small apartments) in 40+ zip codes in the greater Memphis area (including Eastern Arkansas and North Mississippi)  and the rents range from $2,000+ down to less than $500.  For better or worse, we have seen it all.

Best of luck to you!

@Frank Casi, I agree with you to a certain extent, which is why I believe finding the right property management company to partner with is the second most important part of real estate investing (the first part being to buy the property at the right price).

The good news is that the BiggerPockets community can definitely point you in the right direction as far as property management companies go.

Similarly, you can post every opportunity you get in the forum and you will receive instantaneous feedback, which should help you evaluate whether the deal is right for you (kind of like you did with your original post above).

All in all, you are on the right track and taking the right approach.  I have no doubt that you will do very well, especially if you choose to invest in Memphis.

Best of luck to you!

Hi, @Frank Casi.

I think most investors are willing to accept lower returns if they don't have to have to go through the headaches themselves.  Instead, they let the turnkey company and/or the management company deal with the property and the residents, which is where headaches can occasionally come from (for example, rehabs, maintenance, leasing, collections, etc.).

That said, at the end of the day, the numbers need to make sense to you since it's your money.

If you haven't found the right investment vehicle yet, just keep looking.  There are definitely other ways to invest out of state that carry with them different risks and rewards. (I'm sure other BP members can shed light into what those specific alternatives are.)

Hope that helps.

Hi, @David Mavity (and @Anthony Tucker).

Welcome to BiggerPockets!

Check out the Central Arkansas REIA. There are lots of active BP members who attend the meetings.

http://www.meetup.com/Central-Arkansas-Real-Estate-Investors-Association/

Best of luck to you!

@Sara Hodge, 

You're welcome.

Best of luck to you!

Sara,

Personally, I do not get termite treatments on my rental properties nor do the majority of the investors we manage for.

That said, if I owned only one house, I would be much more inclined to do everything I could to protect that specific asset.

Across a diverse portfolio of properties, the law of large numbers kicks in and you don't have to worry so much about one off events.  And, termite troubles in Memphis seem to be a rare occurrence, from everything I can tell.

Hope that helps.

Hi, Allison.

Welcome to BiggerPockets!

Check out the Central Arkansas REIA. There are lots of active BP members who attend the meetings.

http://www.meetup.com/Central-Arkansas-Real-Estate-Investors-Association/

Best of luck to you!

Eric, 

Congratulations on your first investment property!

And, welcome to the BiggerPockets community. There's a ton of great info here!

Just start asking questions and people will start replying.

Best of luck to you.

Hi, @Andy Mayer.

Here are 2 lenders that I would check with regarding financing your properties.  We have worked with them in one capacity or another and I know that they have an international product.

http://snmcloanteam.com/stevebighaus/

http://www.bridgememphis.com/

I have heard that the portfolio lenders (eg, B2R, First Key, Colony, etc.) are working on an international product as well. I'm pretty sure they can lend to an LLC if you have your properties in a US-recognized entity.

Hope that helps.

Hi, @Chris E.

Memphis is awesome place to invest!

There are plenty of active BiggerPockets members, including Realtors, property managers, investors, and turnkey providers, who will gladly help you learn more about our great city.  

Just start asking questions and you will quickly see what I mean.

Best of luck to you!