All Forum Posts by: Engelo Rumora

@Jason Frink you can also look into Detroit and Toledo.

Been reading that Memphis is becoming saturated with rentals.

 Google amigo

John,

Check out Inspectify.

Even in our local market we use them for pre-purchase inspections, draw inspections, PM quarterly inspections.

They are a saving grace.

You're welcome hehe 🙏

Hi John, I purchased two properties (SFH's) from MidSouth - one in October 2023 and the other in March 2024. Both are in Memphis. I bought the properties in cash: one for $114k and the other for $123k. The market value for the one I purchased for $114k hovers between $139k and $142k, so I walked into that property with equity from the get-go. The market value on the other property is pretty stagnant and fluctuates between $119k and $125k. I receive rents totaling $1817 per month, after property management fees of 8% are deducted. So far, so good as far as I'm concerned. Here's what I've learned in my brief experience:

1. Turnkey properties are great for someone like me who lives in a state where cashflow is very hard to find and who has a busy career that doesn't allow much time for typical landlording duties;

2. Turnkey properties are better if you're planning to hold for a good while (5+ years). As you can see from my numbers, this is not a quick appreciation situation although I hope that equity will build over time;

3. ALWAYS conduct your own inspection, even if the property is turnkey.

Hope this helps - best of luck!!

 I haven't seen or heard anything about lane k, ODC or Rad............Post the links.