All Forum Posts by: Jace Perry

Memphis is a great city to invest in for all 3 reasons that you are asking about! 

1) Memphis is still one of the highest-ranking cities in terms of cash flow! We are still seeing a majority of properties be cashflow positive from Day 1. 

2) There is no state income tax in Tennessee!!

3) we are very landlord friendly and an eviction only takes about 30 days typically if that were to occur. 

I would be more than happy to discuss Memphis with you! Feel free to reach out! 

I have bought sold either properties or notes in about 30 states.  I am not going to list the good, bad and ugly for each but mention just a few things that stand out.  

South Carolina (where I live) is a great state for many things but not rental real estate.  Why? Because the property tax as a non-owner occupied property is about 3-4 times the amount of a owner occupied property.  The owner occupant rate is super low compared to many states but as a rental it goes up alot.  The insurance is higher along the coastal areas because of potential hurricanes but not bad the further north you go.  Now it is a pretty landlord friendly state.

Ohio - property taxes are high relative to many other states but in many cities the rental rates are high (better cash flow) as a compared to the house price and therefore a relatively low price-to-rent ratio.  I have been in Cleveland but not my favorite city in Ohio.  Prefer Dayton, Akron, Columbus.

Tennessee - is a lower property tax state and the properties cash flow pretty well.  The price-to-rent ratio is also low.  Just stay out of the higher crime areas of Memphis.  

Alabama - super low property tax but the rents are lower as well but all in all a good cash flow state.  

So many state so few time - I also like many parts of Georgia, Mississippi, North Carolina (Southern States) which are pretty landlord friendly and have lower property tax.  Also like Oklahoma, Indiana, and Texas.

Hi - I was just curious if anyone has used backflip as a hard money lender?  From what I have researched they seem legitimate but the person I am working with is flakey, takes forever to answer questions so I thought I would see if anyone else had experience with this lender.  Thank you!