All Forum Posts by: Michael Hayes

Great new wholesale deal in Memphis, TN.  3685 Southland St. 38109.  950/sf, 3 bedrooms, 1 bathroom. This home is in a popular area with average rent around $700/mo (Rentometer.com).

Rehab was started on this house but unfinished.  Brand new roof, and any investor should not have an issue finishing what was started.

Asking price is $19,500 with seller closing costs.

For complete property details, please visit Hayes Investment Deals, with the direct link to the complete picture set, and video walkthrough at 3685 Southland St.

For more information, please give me a call at 1-901-830-8468 or send an email to [email protected].

Thanks!

@Stephen Marshall I'm anxious to see how the new outlet mall will turn out in Desoto.  Its definitely growing quickly out there! 

@Dean Letfus I'll have to agree to disagree on that one.  I grew up in 38116 and am in the area almost daily.  Investors who I work with love 38116.  Worked with Curt on a deal out that way not too long ago.  38118 isn't as great as 38116, but there is money to be made in the area.  Just have to be selective.

As everyone else said, the crime is concentrated in Memphis.  Just a couple of zip codes you may want to look into are 38116, 38118, 38117, 38141, 38125, 38115, 38122, 38134 and areas close by.  Again these are just a few.  In general most investors I talk to like these areas and the rental market is indeed very stable. 

I'm no expert on the area, but what's unique about NM is that there is PLENTY of building going on.  New retail stores, businesses, etc.  Very busy area.  Has to be good for the market.  May be an area I would personally look into in the future, but there's just something about Memphis!  Great market.

Ah ok.  May have been looking at the other end of the area.  Great job still though.  It gets easier after the first one. @Stephen Rogers

@Stephen Rogers I'm no expert on Southaven, but houses in that area go for somewhere in the $100,000 range right?  Sounds like you got a great deal!  Congrats on the first one! 

@Nicholas Lisauskas I don't know much about your areas REIA, but you should start there and do some networking. Chicago may or may not have more than one association.

http://www.biggerpockets.com/renewsblog/2014/02/24/beginners-guide-finding-mentor/

BP also offers a pretty good guide on finding mentors.  Hope that helps.  Good luck!

I agree with 2 weeks.  I have one now that is taking over a month but only because of title issues.

@Kiara Washington welcome to the site!  Have you joined your local Real Estate Investors Association?  Many of your buyers will come from there just through networking with members.  You can also try direct mail.  Whenever I get a new property to wholesale, I find the information for buyers who recently closed in the area and send a letter introducing my business and the deal.  Those are just a couple of ways to start.  Good luck!

Hello,

I still have 1 off market wholesale deal from a 2 house deal I had a week ago.  The price on this one has also been lowered.

865 Carrolton Ave. Memphis, TN 38127
 Was: $12,000 NOW Asking:  $11,000
Bedrooms: 3
Baths: 1
Sq.ft: 875
Description: Estimated rent is $550-$600/mo. House will need some roof work done, but mostly cosmetic upgrades. If you look at current properties for sale in the area, none are priced this low.

All property information, pictures, and video walkthrough can be accessed through the link below.

For any questions feel free to email me or give me a call.

Michael Hayes, 901-830-8468, [email protected]

http://www.hayesinvestmentdeals.com/#!865-carrolton/c20zd