All Forum Posts by: Jason Carter

Following this thread as I just entered my properties into it. Have yet to sit down and really dive into it. 

@Johnny Lau you can definitely get houses for those prices and get 750 rent all day long in Bham. I've got some in my inbox now. DM me and I'm happy to forward them to you. 

In Grand Rapids I suggest talking with  

@Paul Leason and @Jake Thomas. 

Then reach out to some local investors, looks like a few good ones are on this thread, ask them for input and referrals. Then contact their referrals. That's how you build a network. Take the info you get from one person and vet it through the others. You'll get a consensus and as those relationships grow so will the trust. Also, visit the area before you buy something. Drive the neighborhoods, view the property and buy the people you've been talking with coffee/beer/lunch. And try to offer them some value as well, even if it's just recommending them to other investors. 

I didn't notice where you are located but I assume you'll be using management. GR has some great options there as well. 

Best of luck! 

I suggest looking at the Ultimate Beginners Guide here on Biggerpockets. I believe they also just published a book with the same or similar title. I suggest you buy that and read it before you buy any property. It'll answer those questions and probably a few more too. 

Best of luck. 

Why don't you buy in Birmingham? It's an excellent market. Are you planning to move to the DC area? 

I'm simply echoing @Joel Owens here but Nail Salons, Hair salons, Dry Cleaners, Liquor Stores, Subway sandwiches and similar. There are many services that will never go online. 

And guess what Amazon is investing in? 

http://time.com/5401213/amazon-stores/

We've been shopping for another strip center this year and the competition is fierce right now. 

To be fair, I misunderstood the timing. Stay on top of your PM though.  Managing your manager is an ongoing thing and a pain in the rear.  Their job is not easy and you are going to pay for some convenience they provide but be very leery of sustained vacancies in Memphis. If you have more issues I recommend reaching out to @Alex Craig and @Antoine Martel. I found them both to be very helpful in Memphis. And monitor the Memphis forums on here, it’s very active. Best of luck. 

It sat vacant all summer long?!?! IMHO, you need to change management companies pronto. One of my business partners works in Memphis and his houses never sit vacant that long. Nowhere near it. Search "property managers in Memphis" on here and call the ones recommended most. Pick the one you feel best about. I'd be doing that first thing Monday if I were you. 

Yeah I agree with @Hadar Orkibi. Might be worth holding. We buy commercial retail. I suggest calling some local commercial property leasing agents/management companies and get their opinion on rentability. Ask on here if anyone has any referrals. It's definitely worth a few phone calls. 

@Otis Sanders Reach out to @Mark Byers at Signal Rents. He can help you with management and everything else.