All Forum Posts by: Jordan Ray

Are there opportunities to buy right now? @Dean Harris says yes there are in Memphis (and if you can't see them to open your eyes!). 

 Hey Jordan, 

Thank you so much for giving me your feedback. I have noticed the trend of people telling me to move to their city. I am currently a student at Alabama, and am from the Mobile Al metro area. I want to get out of Alabama for 5 or so years at least! I have drilled in my brain that REI is the way to financial freedom, so I am truly open to going wherever if it means cash flow. I really like Charleston SC, because I have a few connections up there and its near the water, although the cost of living is higher than average. It is also not too far from home. The majority of my connections/students either move to Atlanta, Dallas or Nashville, or back to Mobile/Birmingham. Out of the three, Dallas is the one that I would really want to move to. I saw multiple people talk about the midwest area on this discussion. I would love to build a portfolio throughout the midwest, and not live there, if you get what I'm saying. I just do not have enough experience or capital to pay a property manager. Still looking for my first house hacking opportunity, which will be wherever I end up.

Thanks,

Matthew

Hey @Matthew Kalifeh

Good luck with the rest of your schooling I just finished up my undergrad and MBA. 

Considering your criteria, Memphis could be a great fit:

Affordability: Lower cost of living makes it accessible.
Diverse Economy: Stable market with strengths in healthcare, logistics, and education.
Growing Population: Steady growth can drive demand for rental properties.
Youthful Vibe: Vibrant culture and entertainment options for young people.
Real Estate Opportunities: Research neighborhoods for house hacking and investing potential.

Ensure thorough due diligence, connect with local professionals, and align your goals with Memphis's unique market dynamics. Best of luck on your real estate journey, and feel free to reach out with any questions. 

Ooh, I can't not reply to this topic.  An offensive lowball offer I received on a property I listed for sale in suburban Denver back in 2007 is what turned me into a real estate investor.  My realtor (and best friend) still says it was the most offensive conversation he has ever had with another realtor.  Ha!  And 16-years later I still own that property, and it has been fantastic as a rental.  Thanks lowball offeror!  You changed my life! 

Hey fantastic RE agents of BiggerPockets!

Earlier today, I was speaking with a friend of mine regarding a few properties that I am looking at. One of the property's is a SFH fixer upper and the owners are "extremely motivated" - it is vacant, they are out of state and just want the property gone. Property needs enough work that the average MLS buyer probably wouldn't be interested. The seller already had one contract fall through.

MLS asking: 200k

ARV: estimated 260k (ish?)

In talking with my friend, I mentioned I might offer 150k or even lower. You know, shoot my shot and maybe I’ll score. My friend was appalled I would do that, citing that my RE agent wouldn’t do that because of a “RE Agent Code” that essentially says that submitting offers lower than 20% would insult the sellers agent and my RE Agent’s reputation would be damaged.

Is it wrong that I want an agent to send lowball offers? In my mind, I would want to send out 20 offers and hope one works out. Am I wrong in that thinking? If my agent won’t send low offers, do I need to get a new one?

Thanks in advance!

I want to be Investor #3

Buy any time of the year.  Hold for at least one year and a day to qualify for Long Term Cap Gains.  Pay the least amount of tax possible and put the most money in my pockets.

Your guys' podcast is gold @Douglas Skipworth! I found it about a week or so ago and invest in memphis currently and have been kicking myself that I didn't find you guys' earlier! I reached out to Dean and hope to try to get something together with you guys here in January.

@Matthew Kalifeh The southern/middle part of the country is a great place to live and to own rentals. DFW, Memphis or like a couple others have mentioned Oklahoma would be great options. Best of luck, let us know what you decide!