All Forum Posts by: Melodee Lucido

Thank you David. I am definitely seeing increases in the Memphis & Chattanooga markets.

Anil, being new to the business and having some level of (justified) discomfort with the areas I do not recommend this package for you. I know this package; I saw it this week.

It would be much better to go with something safer---small steps are the best way to start.

Best to you

Hi @JackB and welcome to BP. It's a great place to learn, make connections and do biz.

Memphis Buy and Hold is owned and managed by @Derrick Craig. I have worked with him for a while and find him to be a man of integrity. He also grew up in Memphis and knows it better than most anyone I have worked with here before. 

I receive no perks for saying this about Derrick. It's just my experience. I had to learn from the school of hard knocks when I first started in Memphis but now have solid teams in place and that is the most crucial part of investing out of state---which is about 90% of my business. If Derrick says DO NOT buy there you can believe he knows what he is talking about. He is a straight shooter :-)

There are many loooong discussions here on BP about turnkey companies, buying turnkey and investing out of state. You could literally read for an entire day on the topics.

Best of Luck to You

@John Canchola 

Derrick offers excellent service in property management in areas like this---but each property is handled on a case by case evaluation. I have worked with Derrick and do not get paid to endorse him. He is simply someone who is straightforward, honest and is trustworthy. He handles properties for my buyers regularly.

As far as demographics go, rentals are up as Gen Xers can't afford to buy, the baby boomers don't want houses that tie them down anymore and many families are still recovering from the past years of craziness.

As has been stated Memphis is a cash flow town---and that is what you are looking for. I think it will be a good place to buy for a long time for those that know what they are doing. None of us have a crystal ball but I do believe that if you can find something that the numbers make sense on---get it now!!

Best of success to you!

@Luke Holcomb 

 LOL, I wish it was that easy!!! I am being honest with you when I say that DM is an unpredictable animal. All I can share is what normally (and nothing is normal!!) happens for me. When I mail out 1000 in TODAY'S market (it was so different last year and even more different the year before) I can pretty much bet on a deal that will bring me more than what I spent on the mailing.

I am being conservative here Luke. The reason is that I have done mailings of 1-2k and gotten just junk leads. It is this way in ANY kind of marketing. 

The glory, the reward comes in the REPEAT mailings. The people might not be motivated today but they may be two months from now. If you stop mailing then they are going to call whomever mailed them that month. This is no joke.

Imagine, if you will, someone has a property that has been a good out of state (oos) rental. Everything has been going pretty good most of the time. They get your postcard/letter for 3 months in a row. Then BAM life happens (in it's ugly form) and someone has a dread disease that is going to be expensive to treat. Things have to be liquidated and they see your postcard. They call . . .

The law of averages, especially in the TODAY market (much more challenging) is that IF you KEEP mailing you will get a deal that will pay for your mailings and then some. I heard from a woman that had 13 rentals out of state. She called FOUR months after my first mailing to her. She just wanted the props to be gone---now---with no profit to her. She was willing to seller finance them to me for VERY little down after she found out that she owned a little more than most wholesalers wanted to pay. Perfect!! She gets the props gone and I get some nice cash flow every month.

And I am working on 2 more seller finance deals on duplexes from 5 months ago. Now, something I didn't mention is the HUGE important detail of follow through. If you are a golfer you get this better than some. I call people that responded to my mailing every 4-6 weeks depending on their tone on the call. Its just a friendly "Hi, I'm just calling to see if you sold that house yet  . . ."

omygosh, this is long. I'm darn passionate about DM.

Best to you Luke

"I'm sorry the thread has gotten completely off-topic from your original question! Somehow this tends to happen anytime out-of-state investing comes up."

@Ali Boone umm yeah. right. I'm not even wasting any more time beating this poor dead horse. Back to work for me. 

I'm doing good girl. We have to catch up soon :-)

wow Bob, take a breath. This is a friendly forum where we all get to share our views without people yelling. I don't understand why you are so upset but of couse you are entitled to your feelings.

 Hmmmm, Bob, I believe we can recommend something without bending the truth. Affiliates are paid for recommending people yes. But why in the world would anyone recommend a junk property. I have many friends that are affiliates for products they are crazy about; they started using the product and then sad, "Hey I want to help others enjoy this too!". There is nothing wrong with this.

And it still takes MUCH research and expertise to pick a good company and good market to invest in. Just because someone is buying turnkey doesn't mean they are stupid---not at all. The thing is to know the numbers you want, study the area and then give the TK company the criteria---then verify everything before pulling the trigger. It takes a lot of skill to invest this way also.

The numbers are what matters not having EVER SEEING the property. And TK investors aren't looking to add anything; they are looking for long term, cash flowing or appreciating (or both) solid investments. I love it when my friends ADD to my live by recommending doctors, lawyers, title companies, restaurants, shampoo  . . . you get the picture.

heehee well said Sistah Investah. There are several markets that can give people what they want. We all have our favs of course but not at the expense of bashing others ;-)) And yes, everything is verifiable n today's world. So nice!!

Can't stop!! I just finished the Wholesale Round table in the bonus' for the Ultimate package. Sooooo good. And  got some great laughs!! Like when @Tim Gordon's face when the example house in one of the scenarios was priced at $200k--just freekin' hilarious.

Brandon, you have such good interviewing skills it's like I am right there with my investing fam ;-)

@Sharon Vornholt I love the kitties!! I love your confidence that comes from so much experience!!!

@Tim Gordon, great dog!! And I love your honesty.

@Jerry Puckett You are funny! as well as amazing in how you work this biz.

Thanks to all!