All Forum Posts by: Haim Mamane Palman

I actually bid on a property today $2500 and  I'm the highest bidder. This property is also in Memphis but I saw recent comps in the area for 30-40k. I hope I will be able to sell it...

Property Address: 2965 Ajanders Cv, Memphis, TN 38127

Assessor Office Link

3 bedrooms 2 bath, 1516 sqft. brick home in Frayser.

Repairs needed: Carpet-flooring, condenser, paint, deep clean, locks changed, rotted wood on exterior needs to be replaced, water heater present, furnace present.

After Repair Value - 45-55k

Property will rent for 600-$675

More Photos here

Purchase Price 16.9k

I'd either sell and buy several cash flow properties in markets such as Memphis, Kansas City, Indianapolis and the like (with leverage if you can qualify) or keep it and get Home Equity Line of Credit and then buy cash flow properties (with leverage if you can qualify). That's a good problem to have.

Thank you everyone for your feedback. At the end of the day it will be the decision of the end buyer as this will be a wholesale deal. See a picture of the pool (attached). Sounds like 5k will be a safe number for removing the pool.

Hi,

I got a hot lead, seller is motivated and want to sell at a discount. The only issue is that the property has a pool and is in a rental neighborhood. The end buyer will be a buy and hold investor and will definitely want to remove the pool. Anyone know a contractor in Memphis that specialize in this? Anyone know what would be the estimated cost for this?

Thank you,

Haim

I'm from SF and I was in your position 4 years ago when you could still buy cash flowing properties in the Bay Area (e.g. Antioch) and 2 hours away (e.g. Stockton) with conventional financing.  After those two I bought few properties out of State (Memphis).

You are in paralysis analysis mode and my best advise to you is just to pull the freaking trigger and take actions. buy a property from one of the reputable turn-key companies in one of the cash flow markets (e.g. Memphis, Indianapolis, Kansas City, Milwaukee, etc). Seems like you like Milwaukee so just buy a property there. You will learn much more by just doing it even if it's not a positive experience. And I say that from experience. Good luck!

@Chris Clothier CONGRATULATIONS! This is a huge accomplishment and as a client I know how good is your product and how professional is your team- from top to bottom.

Looking forward to seeing you in San Francisco this weekend.

Memphis Invest is the real deal. I say it as a client and as someone who worked with more than one turn-key company in Memphis. Yes, you pay premium for their properties but you get a truly fully rehabbed property, you get to work with a professional property management company, and you get outstanding customer service. Despite the fact that I paid much more for their property, the ROI is better with them because the property hasn't been vacant, the tenants pay on time, and the repairs are minimal. I definitely recommend their services.

Hi, 

I'm an investor from CA that is interested in the St. Louis market. 

I'm looking primarily for SFH houses but will look at multi units as well if the numbers work.

Please send me what you have so I could get an idea of the numbers and returns.

Thanks,

Haim

I invest and wholesale in Memphis. Feel free to connect.