All Forum Posts by: Trey Perdue

I've had an awful experience with them. Three tenants in three years with two evictions (the second absolutely destroyed the home), and now the third tenant caused a house fire. I'm in 38114, which may be the problem, but I will never buy another house from them. 

If everything is going well, they're great. But the second there are issues, it's damn near impossible to get information/assistance from them.

Investment Info:

Mobile home buy & hold investment in Harmony.

Purchase price: $37,000
Cash invested: $5,550

The Park currently has six mobile homes that are paying lot rent. Upgrades to the common areas are planned along with additional lots being added.

Investment Info:

Mobile home buy & hold investment in Harmony.

Purchase price: $125,000
Cash invested: $21,664

Mobile Home park with the opportunity to add additional pads and to renovate park owned trailers to either lease or offer RTO.

I just dealt with a similar issue at one of my properties last month. I filed an eviction and had the tenant served. However, I then offered the tenant a deal that if they would pay 50% of their balance then I would drop the eviction proceeding. She benefits from not having the eviction on her record and not having her wages garnished. I benefit because she immediately moved out, I don't have to wait on the court system, and I don't have to chase her for years to garnish her wages. Sure I took a haircut in the short term, but I recouped enough money to cover the mortgage for the three months she was behind and now we're in the process of flipping it for the next tenants.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $219,500

Former primary residence converted into a rental property. Due to my profession, I was able to get a 100% financing loan with no PMI. Currently withholding 50% of the cash flow for maintenance, vacancy, capex.

I'd also like to join in for any periodic Zoom meet ups. Live and invest in Birmingham.

Investment Info:

Single-family residence buy & hold investment in Memphis.

Purchase price: $86,000
Cash invested: $24,000

Property purchased through MidSouth Home Buyers in Memphis, TN.

Investment Info:

Condo fix & flip investment in Birmingham.

Purchase price: $85,000
Cash invested: $15,000
Sale price: $140,000

Condo purchased as a long term rental that ended up being flipped after the housing market spiked.

Investment Info:

Condo buy & hold investment in Auburn.

Purchase price: $90,000
Cash invested: $18,000

Condo close to Auburn University that is currently rented by graduate students.