All Forum Posts by: Eric McCully

John, I live in Memphis proper but invest in DeSoto County, Mississippi (Southaven, Horn Lake, Olive Branch). Just an investor since 2004, not a realtor. Nothing to sell or gain. Happy to talk to you. 

I self manage there but a close friend of mine uses Muddy Water Realty and is very pleased. Whitley Rives with Century21 manages a lot also and I’ve always found her to be a great realtor to work with, so I would trust her as well.

Everything Kristin and Karen said above. I’d do every single thing they suggested a I had the exact same thoughts while I was viewing the pictures online. If it looks crowded and “busy” online then it definitely will in person. Great home, though. Lovely view, great kitchen.

@Ryan Hazelwood

41y/o living in Memphis, TN

24 SFH in DeSoto County, Mississippi (Memphis suburbs)

4-unit in Webster County, Mississippi (hometown)

Largely buy and hold since first purchase in 2004 using money I would have put into my company 401k as down payment (but found out on first day I had to be there 12 months before participating). I’ve done two flips and have sold two properties we held for a long time because it just made better sense to take advantage of the timing. Ours cash flow well but we maintain them well. This venture gave me the ability to leave the big firm I was with and go solo in my other business. By design, I have plenty of time for my wife and daughters, tennis, travel, woodworking, whatever strikes me. Best of luck to you! The risk is worth it IMO.

@Wade Kulesa I’m a Certified Financial Planner and not a Dave fan. Generic blanketed advice is good for no one. Also a real estate investor for the past 15 years and my dad is for 30+ years now. Leverage is the way to go but have some reserves.

I don’t see any info about it.

@Mike Flint Yes, an accountant can. My dad is my CPA, and he's done all of ours. You can also just go to the website for the Secretary of State where you live and - usually - you can find the forms needed to do it yourself. Easy. You don't need an attorney to form/file an LLC!

@Cameron Feldhaus $6,000 for deposit and first month’s rent?! Good Lord, this place must be pretty posh. I’ve seen some people mention the tenant prepaying for the year, but you’re saying this was $6,000 just for deposit and first month’s rent, right?

@Damon Rucker Why do you call the leases “shabby?”

@Julian Fleming Did you find anyone?