All Forum Posts by: Jordan Ray
Jordan Ray has started 31 posts and replied 461 times.
Post: Looking for PMs and Agents in Memphis, Remote Investor
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat ContributorPosted - Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Matt C.:
My wife and I are looking to get started in the Memphis area. Gonna be vetting out a team. Looking for some recommendations from this community first.
Looking for cash flow, willing to BRRRR (or moderate sweat equity if the home is in a nicer part of town).
Hey Matt! Got a pretty sweet set up for deal flow and my investing team + vendors in Memphis! Check out my page & let me know if I can help in any way! Would love to jump on a call with you talk about it and see if we a good fit. Talk soon!
Post: Single Family Unit or Duplex for a First Time Investor?
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat ContributorPosted - Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Victor Nguyen:
I am a first time real estate investor trying to build my real estate portfolio. I hav some excess cash that I would like to put in a rental property. My goal is to get a little bit of cash flow and appreciation. I understand that single family units take a while before they cash flow, and I'm perfectly fine with that if the investment is right. I also want to invest in something that will not give me too many headaches. For a first time real estate investor, which option would you prefer? Single Family Units or Multi-Family?
Single family all day long!
Post: Looking for PMs and Agents in Memphis, Remote Investor
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat ContributorPosted - Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Matt C.:
My wife and I are looking to get started in the Memphis area. Gonna be vetting out a team. Looking for some recommendations from this community first.
Looking for cash flow, willing to BRRRR (or moderate sweat equity if the home is in a nicer part of town).
Hey Matt! Got a pretty sweet set up for deal flow and my investing team + vendors in Memphis! Check out my page & let me know if I can help in any way! Would love to jump on a call with you talk about it and see if we a good fit. Talk soon!
Post: Restoration Company in Memphis
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat ContributorPosted - Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Joshua Savage:
Hello all!
I plan to get a rehab done my rent in Memphis. Just wondering if anyone has experience or feedback about a company called Pillar & Peak Restoration. So far, they seem professional, but I always like to get opinions.
Thanks!
Never heard of them. Let me know if I can provide you with a great referral! Goodluck!
Post: Investing West of US61 - memphis 38109
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat ContributorPosted - Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Pradeep R.:
thank you for the reply. I am buying from a turnkey company. I was listening to a podcast of crestcore company in memphis and they were saying west of 61 is not a good idea to invest.
I don't see any issues with that area.
Post: Investing West of US61 - memphis 38109
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat ContributorPosted - Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Pradeep R.:
Hi Guys,
Are there any concern in investing in real estate west of US-61 in memphis 38109. I am looking to buy turnkey houses in that area but wanted to reach out to you guys to check if there are any concerns on that?
Are you buying them off-market with a turnkey provider or on the MLS? I personally like west of US-61 and have looked at alot of houses in all pockets of this area. I personally own 1 on Margaret Rd. Let me know if I can help in any way!
Post: Need a investor friendly realtor to sell renter occupied cashflowing property
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat ContributorPosted - Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Nitin Agrawal:
looking for a investor friendly realtor with good track record
Check me out! Click to the left and look at my profile and let me know if you would like to work together! Talk soon!
Post: Rental Property #2
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat ContributorPosted - Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $107,000
Cash invested: $7,932
Sale price: $107,000
$107K Purchase price. $28K Rehab. $175K ARV. Rent $1550/month (Projected) Used Avalon Capital's 100% purchase & 100% rehab hard money loan. Used the 3% realtor commission as a credit towards my closing costs. Total closing costs including earnest money was $7,932. Will refinance at 80% LTV. Image is a photoshopped version of what I expect the house to look like when finished.
What made you interested in investing in this type of deal?
I really like this area for rentals. Its close to home.
How did you find this deal and how did you negotiate it?
Was making a verbal for a client. He didn't want it and I had a verbal from the listing agent saying seller would accept my offer. Numbers worked for me on a buy & hold.
How did you finance this deal?
Avalon Capital's 100% purchase & 100% rehab hard money loan. Used the 3% realtor commission as a credit towards my closing costs. Total closing costs including earnest money was $7,932.
How did you add value to the deal?
I will be putting in $28K of rehab to this property.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am the agent and used my commission as a closing costs credit instead of paying taxes on my commission I invested it.
Post: Choosing a Rental Market- Analysis Paralysis!
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat ContributorPosted - Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Alex Johnson:
Hello everyone,
I am looking to purchase my first investment property this year and am having some trouble deciding on a market. I know to look for areas that are landlord friendly, have population/job growth, limited seasonal/environmental issues, high rent/price ratio, and areas within my budget (under $200Kish). However, my issues run into seeing a few markets that look good and then I can't seem to finalize my decision on which is better or where to really focus my time searching. So far I've been interested in Cleveland, Columbus, Birmingham, and Memphis.
Am I missing anything in my criteria? Does anyone have a system they use to filter through the endless available markets and narrow down your options to something a bit more manageable? Any words of wisdom are welcomed too!
Let me know if I can help in Memphis!
Post: How To Find BRRRR Properties
#5 BRRRR - Buy, Rehab, Rent, Refinance, Repeat ContributorPosted - Real Estate Agent
- Memphis, TN
- Posts 488
- Votes 253
Quote from @Devvrat Kumar:
I am a new investor in the Memphis area. How do you find BRRRR properties, as they're not usually listed on Zillow and other such sites? Maybe this topic has already been covered in this forum; please feel free to direct me to the previous posts.
BRRRR deals are definitely not easy to find in Memphis TN because of the amount of competition in the area. Don't let that scare you, you really need an investor agent that also focuses on the BRRRR method that has all of the connections, deal flow, resources, & hustle to land good deals. Check out my page here on BiggerPockets and let me know if I can help in any way! Talk soon!