All Forum Posts by: Mario Am

@Rodney Sums

Yes I was under contract and he knew it

Right!

@Mario Am sorry I meant the Realtor contacted the owner*

I have a question.

I had a property that I was under contract and wanted to flip, after checking the property I decided it wasn't for me.

So I decided to wholesale it,

The deal actually was pretty good for the right person, I posted that I had a deal in a facebook group and anyone interested can contact me.

I was contacted by a realtor telling me that he has cash buyers he can get the info to.

So I sent him the property info, I indicated clearly not to contact the owner.

What had happened is that the wholseller not only contacted the owner, he also sent him screenshots of me and him talking about me assigning the deal (the owner sent these to me)

Furious I was, I contacted the realtor and told him that what he did was very sneaky, seemed like he was trying to go behind my back. And he didn't even apologize, he just attacked and said "well your ARV was a lie you are trying to scam other investors blah blah", first off I verified the ARV with a realtor that agreed with me by running comps, second, you could've just MOVED ON. But he played dirty.

I was wondering if I can sue him for tortious interference of a contract? Is it worth it? And could I complaint him to the association of realtors and what would they even do to him?

Thanks!

@Curt Davis

Gotcha thanks for the insight and thanks everyone guess white it is!

Hey ya'll.

so I looking into flips in 38117 area and have a few questions for those experienced.

Is there any area that is less desirable in zip 38117? Seems to me like when you go below Willow St it goes worse but not sure about it either.. or is all the area solid? 

Also, I am lately seeing a trend of flippers painting the brick white when selling a property, it seems to make properties stand out and sell faster and the old-fashioned me was wondering what everybody's thought about this? Should I go for painting the brick white? While I love the the regular brick color and think its much prettier than white but I don't mind changing it - I am here for whatever makes more money $$$! 

Thanks for any insight you might have..

Kind Regards,

Mario

Hey guys!

I am under contract for 3 properties, however there is one thing about it, one of them, its located in South Memphis zip 38109 (Mallory area).

I know I know I live in Memphis, I know that the area is bad, however I am feeling that the market it pushing investors towards the hoods of memphis because it is getting expensive (even Frayser is getting crazy expensive which I find crazy), I did a few visits in that specific neighborhood and I honestly didn't feel it was really really bad as the rest of South Memphis, I am really not worried about tenants paying on time in my rentals because I always focus on Section8.

Was wondering what are peoples insight in regards to investing in those areas with section8 tenants? Would love to hear someone experienced enough with section8 in the bad hoods to give some opinion? 

TIA

Honestly. A year ago I would have in mind so many zip codes that I would avoid and the current market just erased so many of them! Rents went up after the pandemic and with that the tenant quality improved. I would say the only areas I am avoiding right now are 38108 and 38106. Not a big fan of 38114 but some of it can be ok, the rest - street by street but mostly ok.

How does that makes sense? It says estimated Tenant payment (line 3) is 750$
and "Maximum amount that MHA may pay to the landlord" is 134$, doesn't sound like that is the tenant portion

Hello guys,
So I have a property I want to rent it to a section8, rent will be 900$ a month, she gave me her RTA packet and the TNQ rent burden worksheet which I have attached.

However, it says that that the "Maximum Subsidy" is 134$, does this mean that Section8 will only pay 134$ of the rent?! I was alway told that they pay most of the rent if not all of it!! What is more confusing that she is telling that last rental she had the rent was 900 and Section8 paid 825$ and she only paid 75$, how does it make sense now that the paper says 134$?!
I would appreciate if someone can clear the confusion, thanks in advance!

Kind Regards,

Mario

Hey, I bough it as where is in a foreclosure sale.. so I don't really know whats with the lead.