All Forum Posts by: Eric McCully

I'm a financial planner, and I'd listen to Linda Weygant .

Did you say something low risk like bonds?? Interest rates can only go up. Their relationship to the value of bonds is an inverse relationship. Be cautious. If I had your problem is create a large emergency fund and then reinvest in more real estate!

Sounds good. I have 7 in CH and like it for rentals. How much more $$ has to go into it and how much are you asking? I paid $58k for one recently that was wholesaled to me and needed nothing but I wouldn't go much higher than that because I can buy them much cheaper and fix them myself.

Michael Smith Michael, I actually live in Evergreen but invest in De Soto County, primarily Southaven because of the ability to buy low, rent high, and have a nice, working class tenant. I'm not licensed, but our rental property is the majority of my family's income and I'd be happy to talk to you about what we have found working there. I have had little luck in Midtown because the asking prices are higher than I am willing to pay for the rents and I can get a better return 15 minutes south of here. Maybe we can meet for lunch soon.

Oil rubbed bronze towel bars and rings would really update that look, although I think I would leave it as is. It's a rental; don't let your personal preferences dictate where your dollars get spent. That looks like a bathroom I have in a house in a Memphis suburb that rents $1145/month. If it's in good shape, leave it be.

Bill Manassero List your home on tnhousingsearch.org. That's where the housing authority directs Section 8 voucher holders to look. If one contacts you, then you work through the housing authority to get it inspected and approved. I live in Memphis. Not a real fan of that area, wouldn't touch it, just don't think I would get the kind of tenant that I like there but I work mostly with homes in the $950-1150 rent range. The turn keys seem to be in your area a lot but I can't imagine many people would even see a sign in your yard in that cove, plus the part about break-ins is legitimate. I hope someone with experience in that area of town will chime in. I wouldn't think that $595-650 is outlandish for a 3bedroom there, though. Feel free to privately message me anytime, Bill.

B. All day long, B.

Bill G. Rude.

Were you wanting to buy your first with all cash or maybe consider putting $15k down on 4 houses priced around $80k each? (And keep $15k liquid for when something goes wrong, because it will.) Do you have any other liquid money for personal emergencies or does this $75k represent all your savings?

I used to work in corporate/retail real estate and would order geotech reports for every new store being built. They'd usually bore four holes (where the four corners of the proposed store would be) to 25ft for $2500. That was 2004-2006. I'd say your price is fair.