All Forum Posts by: Eric Hyde

@Mark Douglas SFR's for $50K or is MFR something different? What kind of neighborhoods are they in? I'm good all day long with the 1%. I'm not trying to be greedy, just looking for a solid 1% in a fair neighborhood.

thanks @Mark Douglas!  Can you give me an example of an average Clarksville deal?  Purchase, rent....

hi @Rhonda Blue.  Thanks for your reply.  I invest in Memphis for the cash flow but I love Tennessee so much I might be interested in Nashville (Airbnb?) or knoxville...but I'd love to buy something g that could be retirement down the road that I rent out in the meantime.  Do you know where good cash flow markets are in TN besides Memphis?  Is Nashville saturated?

@Nate Ollie really??  You lived on that street?  Awesome, lol.  Small world I guess.

Hey BPers!  I'm a newer investor looking to network with local real estate professionals.  I live in Torrance in California and I invest out of state (Tennessee) and would love to get to know others doing similar buy and hold type investments out of state or even hear what else people are doing.  Anyone doing AirBnb investments?  Where are you guys investing?

Talk soon,

Eric

@Abdul Azeez I have focused my time/research/energy into the Memphis market (for many reasons) so I can't answer to your questions.  However, I have two properties with @James Wachob and his turnkey company.  One of my houses was rented before I closed escrow!  My second house is still being renovated so I'll get back to you on that one, however, my experience has been great!  They are full turnkey with PM in house.  All the expenses you had on your spreadsheet above would be included into your original investment cost.  Lastly, to address the property tax concern, that is one of my considerations into Memphis.  I don't know the NJ market but for me it's just a numbers game.  If the numbers work even with high property taxes then the numbers work.  If I can get my 1% rents and 10% returns and my other criteria are met then I'm happy.

@Alex Craig I was reviewing my posts and re-read this one.  I just came back from Memphis a couple weeks ago and checked the house out, spoke to neighbors, etc.  They told me the rents in the area are $800....maybe $850.  Granted this was prior to the house being finished.  It should be done with rehab in a few weeks.  However, the management company is advertising it for $1050!  I would love that but I am not holding my breath.  Since the PM doesn't get paid until it's rented, any idea why they would advertise so high?  ....or could that area be worth this much?

Okay, I had to use some key words in the subject like to trigger some keyword alerts. Lol...okay, here is my question. Has anyone here purchased a pre rehab home from a turnkey company and used their 'rehab crew', for a lack of better words, to get it rent ready (BRRRR)? If so, what has been your experience? I am in the middle of a buy and hold deal from a Memphis turnkey provider (rehab being worked on as we speak). I am excited about my first deal and hope it goes well. In addition to that, they supposedly also have an inventory of PRE rehab homes they sell that 'don't meet their numbers'. These are homes they purchased and own in their inventory. As the investor, I can but the home from them for, say $60K...use their rehab crew (maybe from their PM company?) and spend $20K (for example). In this example, I am $80K into the deal. The ARV is worth $95K or $100K. I would rent it out after rehabbing it but wonder if there is a genuine benefit by doing it this way versus finding my own deal. Make sense? Oh....and I live out of state!

Thanks for your help everyone!

Eric