All Forum Posts by: Kevin Perk

Hi Brandy,

Welcome to BP. Lots of great info here and if you want to get to know RE in Memphis follow @Curt Davis advice and come see us at MIG. Be sure to introduce yourself to me if you do.

Good luck and let me know if I can help,

Kevin

I look for people I can trust and rely on, who will also provide me with solid advice or help advance my goals.

Who that is may be different based upon what you want to do. Tell us more.

It is very market specific as @James Wise said.

In my part of Memphis we have to provide appliances. In other parts of Memphis the landlord never supplies appliances. In still other parts, the landlord rents the appliances to the tenant.

I hope you are able to get in touch with some other local landlords here. If not, perhaps you could call some "For Rent" signs in your general area and see if appliances are provided.

Good luck!

Hey Brandon,

Good questions. Let's see if I can help get some answers for you.

Paging @Alex Craig

Hey Lauren,

This Towson grad welcomes you and wishes you well.

I have heard good things about the Baltimore REIA from all the way down here in Memphis. Glad you are checking them out.

It is the same everywhere, network, network, network. Get off the wall, meet people and let them know what you are looking for and what you are doing. Things will start happening for you.

Good luck,

Kevin

@David Hutson

Smart move on your part coming here and checking things out. Plus you already had some background info and will be coming back every once in a while. I think feet on the ground here is one of the keys to success.

Just curious, what parts of town are you looking at?

Welcome Trey,

I like Midtown.

Come see us at our local REIA meeting. PM for details as I do not want to get in trouble on the forums.

Kevin

@Account Closed

Here is a post I did on tenant red flags. A pretty good discussion was also had in the comments.

http://www.biggerpockets.com/renewsblog/2013/10/14/red-flags-tenant/

Hope it helps you out,

Kevin

We look at credit. It is amazing the story that it can tell. What we are looking for mainly is to see if they pay their bills, and if they pay them on time. Most folks are going to have some dings, but what you want to see is a consistent history of on time payments. Even for the little stuff.

You will also be able to see if what they are telling you on your application is truthful or not. Look to see if things match up. Do names, addresses, dates and payments match with what you are being told? If not, you can dig deeper.

Plus you should be able to determine if they can afford your property. The credit report should give you an estimate of total monthly payments. Will this number when added to other things like food and utilities allow them to afford your property?

For all of these reasons and more, I would look at the credit report before handing them the keys to your $80,000 investment.

Yep, "Ugly Houses" is their property and you have experienced a shot across the bough so to speak.

I would think of another catch phrase if I were you.