All Forum Posts by: Jordan Ray
Jordan Ray has started 31 posts and replied 461 times.
Post: Old Member active again!
- Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Jared Smith:
@Jordan Ray thanks! I am excited to be with this new team and pumped to see where 2025 takes us!
💪🔥
Post: Memphis Cashflow Turnkey
- Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Muneet Chohan:
Hello,
Has anyone invested with Memphis cashflow? Their model looks great. Appreciate if anyone has first hand insight.
Nope. I personally stay away from turnkey companies. There is plenty of good turnkey properties on the MLS for sale that would cashflow using the 1% rule and you wont have to overpay for them on a "promise". I have personally sold many properties where sellers needed to off-load a bad deal after buying unrepresented from a turnkey company. Good-luck and hope that helps! Let me know if I can help in any way!
Post: Forming an LLC - Memphis Investor Living Out-of-State
- Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Phil Petite:
Hi BP! :)
General question here: I invest in long term rentals in Memphis, but I live out-of-state in NYC, so I was wondering if anyone had any general advice about starting an LLC in my situation.
Would you form the LLC in Tennessee or would you recommend forming the LLC elsewhere? Any advice would be great, thank you in advance! :)
Hey Phil! Do you still have the video I shared with you months ago on how to set up an LLC in Tennessee? Check our chat messages, should still be there. I wouldn't recommend setting up an LLC out of state if you are buying in Tennessee unless your tax advisor is looking to help you on strategy.. but from a numbers standpoint, it really doesn't make sense when you start adding up on all of the annual LLC reporting fees from different states and then it starts cutting into your cashflow. Hope that helps!
Post: Old Member active again!
- Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Jared Smith:
Hello! My name is Jared Smith and I have been involved in various real estate investments since 2006 when we did our first flip in the PNW all on a CC! (not recommended). In 2017 we started our journey with long-term buy-and-hold investment properties in the Memphis, TN area after selling a property that we were losing money on every month in NOVA that we purchased as a primary residence in Jan 2007 (talk about all-time bad timing) and then had to move with the Navy in 2009 (2nd all-time worst timing). We have done all kinds of deals on our own ranging from buying, selling, flips, BRRRRs, and now are also invested in commercial properties along with our SFR portfolio.
After retiring from the Navy last summer (2023) and working in a corporate office for 18 months, I have made the leap to working for REI Nation, the country's premier turnkey investment property company. The Clothier family is a real force and I am all in on my new journey.
I'll see you all in the forums!
Sounds like wealth is in your future! Welcome back!
Post: Would you buy this??
- Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Rick Grimsley:
Hello all,
Looking at a 3 bedroom 2 bath built 1970 in a fair part of memphis.
Price 39,000
Repairs 10,000
ARV 77,000
Rents in the area 925
Would you buy and hold?
Thanks for your thoughts!!
Based on the numbers, I am willing to bet this is located in 38126, 38106 or 38112. Whats the address? These numbers sound decent but whats the condition of the property and is the $925/month rent sustainable for the neighborhood? Happy to help! DM me the address.
Post: Guidance on OOS markets to get into
- Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Kent Fang ching:
Hello BP community! I am looking to get into out of state investing. I live in San Diego, CA and as you all know, it’s a very high entry point here so looking to get into a long term rental elsewhere. I am looking to use all cash, under 200k, preferably under 180k for a single family or a duplex if viable with my budget. I am a small business owner, business is not doing too well right now so that’s why I’m looking at an all cash buy, so I can get a nice cash flow to supplement. Would like to be in a city where I could get potentially $1,500 to 2k in rent. The list of cities that I’ve come up with so far by my own rookie research is the following, but always open to other suggestions from members that have experience else where.
Waco, Dallas, El Paso, TX
Indianapolis, IN
Pittsburg, PA
Looking to connect with locals who can help build a boots on the ground team as well. Thank you guys so much for any help here.
Hey Kent! There is a-lot of good information in previous responses that I read but I have one more thing to add on for why Memphis is an attractive rental market. There is opportunity here for great cash-on-cash returns because we have local hard money lenders that provide 100% purchase & rehab loans for doing the BRRRR method, which ultimately decrease the amount in the deal. I have been doing deals with less than $10,000 out of pocket and seeing 40%+ COC returns. I personally feel very blessed to have Memphis in my backyard to build my portfolio but being an out-of-state investor is very manageable with the right team to be your boots on the ground that will go to work for you! Find you an agent with a team behind him of solid general contractors, lenders, and property managers as well as other necessary contacts that will make navigating the best neighborhoods for solid rentals that will help you achieve what your looking for (Under $180K for SFH and/or a duplex, cashflow, and $1500 - $2000 in monthly rent)
Here is one extra bonus to add into the mix for your criteria.. Section 8 tenants. I personally own 2 of them and plan to make all of my rentals section 8 as leases end. I enjoy the guaranteed rent and higher rents than most regular properties with a "normal" tenant. There are also some challenges here as well to navigate but with the right systems and processes, section 8 rentals could be a nice avenue for you to explore. Let me know if I can help in any way! Talk soon!
Post: ARV Question: Closer but 5+ year sold comps vs Further but 1+ year sold comps?
- Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Jei Mercado:
Hi Jonathan, thanks for the quick reply. I'm looking at SFH in the Memphis, TN area (38128). I don't believe anything too crazy. I've only filtered by sold 0-2 years and br/ba which is why i'm surprised. If I changed the filter to around 3-5 years then I can see 1 or 2 properties but i'm not sure if that is enough for an appraiser to use.
I'm fairly new to real estate so if there is any feedback on what I can get a better idea than that would be awesome. There are some areas I can see a good value so my question was more related what about areas that don't have with in a 1 mile radius or haven't sold anything nearby since 5 years ago.
Whats the address? I can send you some comps.
Post: CPAs Memphis area
- Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Michael Hayes:
Hello BP family. Who are you guys using for CPAs in the Memphis area?
Thanks.
Ive actually been interviewing CPAs myself and I have narrowed it down. I will DM you who I chose to go with.
Post: Off Market Investment, Less than $10K per deal! (Flip or BRRRR)
- Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
I specialize in helping investors like you uncover high-return real estate deals here in Memphis. Let me know if you’re open to discussing new strategies that could grow your portfolio quickly! I have been helping investors close deals with less than $10,000.
Let's hop on a call to discuss!
Watch this demonstration video I made for you! 👇👇👇
Post: Is there still interest in Rooming Houses as a STR?
- Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Adrian Henning:
Do Investors still have interest in rooming houses? Rooming houses usually don't get to take advantage of sporting events, concerts, festivals that usually result in spikes in rental fees and more profits ( and glory) that AirBnb and other STRs get to. But if set up correctly, they can be more consistent performers over time and have more predictable cash flow.
I have a 3 home package that I'm working in my market. I was wondering if: 1) investors still found rooming homes as viable? 2) What would be best way to market those rooming houses. I'm listed on MLS and I've posted in all of the groups on facebook. Now I'm here. Any info would be a huge help. Thanks!
Hey Adrian, I do not see a-lot of this in Memphis TN. Occasionally, I will get an objection from an off-market homeowner that "might" sell saying... "I was looking at get my property rented by the room to college students or Veterans" but I don't actively see this happening often. Hope this helps!