All Forum Posts by: Jonathan McGee

Derek, I currently have 3 property scouts (seems to be a more interesting term) in the Memphis area all found from Craigslist ads that I ran. I’ve realized the faster you can buy or move one of your scouts’ leads, the more inclined they will get out there and hunt.

Still available? Please contact me at [email protected]

Welcome Loveena! You can find endless information on real estate basics, wholesaling, how to estimate repairs and more here on BP! Caleb was right about the general rule of thumb being 70% of the market value minus repairs minus your fee equals your offer. This guarantees a solid equity for the investor. There is a repair calculator tool here and you can also bring a “repair sheet” with you to the house to check off certain essential repairs. For those who are still grasping the concept of repair estimates, I suggest just shooting for 50-55% of the market value minus your fee for your offer. Wish you success in your journey!

Sounds like you’ve got a solid plan Brendon! I’m a local of Memphis, and since it’s on your list, I’m sure you are aware of the excellent cash flow market here! You can easily find some of the top companies in Memphis here on BP. If you are looking for a solid turn key company with property management, try Memphis Invest or Reedy. Feel free to reach out if you have any questions about Memphis! Wish you success in your real estate journey!

If you can get a significant discount off the listed price on MLS, your buyer may not want to go around you since you have a contract on the line at a price that works for the end buyer. If your price is marked up from the listing price, then of course I could see the end buyer wanting to go directly to the source. I typically wouldn’t put a listed property under contract unless I already had my buyer lined up and ready to close.

Welcome aboard Abelino! You’ll find quite a bit of information on every topic here on BP! If you have any questions feel free to ask away. Wish you success in the new year!

I’m in Memphis but I’ve been eyeing the Little Rock market. Personally, I feel like Arkansas’ market will be increase gradually due to their recent approval of medical marijuana. Are there certain areas of Little Rock that are hot right now?

Welcome to BP Darren! Sounds like you have a solid plan! I'm sure you'll find plenty of resources here. San Diego seems to be still be a feasible market! Wish you success in your real estate journey!

Welcome back Matthew! There is a ton of resources and info here on BP, not to mention linking with great connections! If you ever have any questions or looking for someone with their eyes and ears on the ground in Memphis, feel free to reach out to me! Wish you the best in your success!

It’s very possible it is just the interior metal flaking off from holding in heated pressure. I grew up in an HVAC family and showcasing the metal flaking in the furnace is a selling point to get you to replace the furnace. Although, the more it flakes off eventually it will turn into a full blown crack and hole so it may be best to consider replacing the furnace by next winter.