All Forum Posts by: Jordan Ray

Any recommendations for property management services in Memphis.

I have 10 SF and MF rentals in several areas, my concerns are with Cape Coral and Memphis. I use property managers in both places. I feel like I’ve seen a few recent issues and curious what other investors have seen.

1. I have duplex in Cape Coral. Rents b/t $1400-$1700 per side. One side was vacant from April to August! When I inquired about it, the manager told me, ‘the tenant had an issue moving out of their last place’. Then, I just saw a placement fee of $1275 charged by the management company. This is something I haven’t experienced before. I’m not calling out the company yet, as I want to make sure I’m not missing something. I’m almost wondering if they held this property, at my expense, for a friend or acquaintance. How is a 4 month vacancy ok?

2. Memphis. Wow. I’ve used several different PM’s here since 2005. I have had one favorite company. However, tenant moved out prior to July 1. I was given a get ready estimate between $3-$4K. Which, to me, should have been a pretty quick turn. I check in this property several times and wasn’t satisfied, as there was no progress. Property finally listed around Sep 6. But the turn cost exceeded $6K. There was no information shared prior to the increase.

These seem like really long vacancy periods and poor communication. I haven’t experienced it before. I know there are lots of Memphis and CC investors here and appreciate any help.

CrestCore has produced an awesome interactive website ranking the zip codes in Memphis. Is there similar information on Multi-family CAP rates on either zip codes or known areas in Memphis? I'm assumming that there are CAP variations within the City. Blessings !!!

Good morning all, 

My name is Mirlyne .My husband and I are looking for to invest in Memphis , we are out of state and we are  actively looking for a good property management. We’ ve made some research and  spoke with couple of them however based on experience from investors on the ground we would like to hear from you and  any advice would be greatly appreciated. We plan when we found a deal to go visit first and meet the crew .Thank you!

Best 

Mirlyne.

Craig Jennings over at Avalon Capital is one of the best in the business. 

I am looking for hard money lenders in Memphis to finance a real estate investment project. If you know of any reliable lenders or have recommendations, please let me know. Your suggestions would be greatly appreciated. Thank you in advance!!

Experts, I am looking for some pointers which areas to target for my 2nd rental property. I am based out of California.

$$ Range = max 250k

Down payment = max 25%

Goal = Positive cash flow

Below are the areas i have done some research on so far.

Fayetteville, NC 

Like the fact that there property taxes are low, hence the rental comps vs expenses (mortgage + property taxes + hoa + insurance etc) are kind of breakeven or slight positive cash flow is possible. Assuming 7.5% mortgage rate.

Pflugerville, TX

Property tax is high but austin suburbs seems to have potential of growth due to major techs moving in the area. Rental comps vs mortgage not quite giving positive cash flow with high rates.

I also have areas like memphis, columbus, oklahoma in mind but haven't done thorough research on these so far.

Can anyone advice what other areas (or best from the above list) to look for within my budget and goal in mind.

Appreciate any pointers and happy to connect with local agents/investors.

I have equitable interest in 2 parcels and need a BPO to determine fair value - these parcels are commercial/industrial and in EMP zone.  I also am looking for a rock star agent to sell these 2 parcels.  if you are willing and able to list an equitable interest property and/or have buyers please reach out.  

The average vacancy rate in Austin, TX is currently hovering around 15%.

Hey all! I've been reading along and trying to absorb as much knowledge as I can in the last 4 years. I'm curious if anyone has had any dealings with REI nation lately? My main question is if these properties ended up cash flowing or gaining appreciation in the past few years? Would you use them again? Any information would be appreciated. Thank you!