All Forum Posts by: Jordan Ray

Hey everyone, I'm looking for Wholesalers in the Memphis area. interested in zip codes: 38127, 38111, 38109, 38115, 38138, 38139, 38017, 38016.

Please send me a DM for an email address and phone number.

Good morning everyone I’m just here to share my experience with an amazing agent out of Memphis. I currently live in NJ and as of last week I have just purchased my first out of state property. I sat on the sidelines for a very long time and decided to take action. After calling serval agents in the Memphis area I came across a gentlemen named Walter Jones. Walter was the perfect fit for a guy like myself. I wanted an agent who Works with people out of state, and who has knowledge of the area he is at. Any question I have Walter is always their to answer. He also goes above and beyond when needed. If you are out of state and looking to invest in Memphis please do not hesitate to reach out to Walter Jones. If the dictionary had a definition for Rockstar agent Walter’s name would be next to it 

Hi, I am based in South Florida -- looking to buy first rental property, looking out of state at Markets like Columbus, Memphis, Pittsburgh.

Targeting cash flowing properties on the east coast. Looking to connect with folks familiar with these areas or similar.

Quote from @Jordan Ray:

Quote from @Phil Petite:

Hi BP!

One of the rentals that I own in Memphis, TN that I bought in early January had a Section 8 tenant already in place, the deal looked good on paper, but I forgot to ask for the rent ledger. It turns out that the tenant had not paid the rent in November and December (and ultimately January too), because the previous owner allowed the home to fail 2 section 8 inspections before I purchased the property. Now the tenant will not leave, and we have started the eviction process.

This is a clear (and costly) learning experience for me, but does anyone have suggestions about what I can do to fix this situation? My property manager told me that we pretty much can't do anything for the next 60-90 days. I was wondering if anyone has had an experience like this and can offer some guidance.

Hey Phil! You could offer them cash for keys! Its alot cheaper than an eviction (If it works) I would start with the amount of their security deposit! Use this form (Attached).

You can DM me for pdf version of this document.

This is awesome!!! Thanks so much, Jordan!!!!

Hi BP!

One of the rentals that I own in Memphis, TN that I bought in early January had a Section 8 tenant already in place, the deal looked good on paper, but I forgot to ask for the rent ledger. It turns out that the tenant had not paid the rent in November and December (and ultimately January too), because the previous owner allowed the home to fail 2 section 8 inspections before I purchased the property. Now the tenant will not leave, and we have started the eviction process.

This is a clear (and costly) learning experience for me, but does anyone have suggestions about what I can do to fix this situation? My property manager told me that we pretty much can't do anything for the next 60-90 days. I was wondering if anyone has had an experience like this and can offer some guidance.

Hey Everyone, 

I hope you're having a great day. There aren't alot of recently sold properties under real estate listing tab for memphis in BP, what other tools are you using to gage the ARV?

I am working with my broker, but would like another tool when I'm analyzing other properties being sent from the MLS. Thanks.

Geez so many Debbie Downers in this thread.   

Holly, I have some pretty incredible news for you.   Yes, you can absolutely still buy a $50,000 home and make money on it still.   Muskegon MI is the place for you.    We have homes over here in rental condition and occupied for as low as the $30,000 range!   I just sold an investor a 2 bed 1 bath home in Muskegon Heights with updated kitchen and newer roof and vinyl siding that is occupied and paying rent at $700+month for $49,500!    This is absolutely possible.   If you wanted to do a quick flip and buy it for $25,000 and put $10,000 into it and resell for $50,000 we can certainly do that.   For a cheap/low money/starting investor, I can't think of a better place in the USA right now to invest than West Michigan.

Call code enforcement.  They can temporarily condemn the house since it has no electricity and is therefore uninhabitable.

Then they should be able to remove him in 24 hours.

I just did this here in SC.

Sheriff gave the person 15 minutes to get there stuff and get out.