All Forum Posts by: Rashard Alomari

It’s fine. I’d prefer to use my attorney for both sides, but if they insist to use their own, let them! All we care about is a closed deal.

Wow. There is so much I would like to say regarding this topic, but I’ll abbreviate. Yes, it is very realistic that a property is sent out to an email list and is gone within hours. Especially if it is a good deal. You need to react quickly and effectively. You don’t need to put an offer on a contract without doing your due diligence, but you do need to respond promptly and look into the purchase and either pull the trigger or accept the fact that a true deal will be gone rather quickly. Regarding earnest money, you should ONLY put a deposit down if you are certain you want to buy the property and that deposit should be entirely non-refundable with the exception of title defect(liens/encumbrances/etc). That will eliminate any worry you have with being upside down(unless purchased at the wrong price point). If anyone tells you your deposit isn’t refundable even with title defect you need to tell them to fly off somewhere. Regarding trusting a wholesaler, or any investor for that matter, you don’t have to! It’s not your job to trust anyone; it is in fact your job to trust yourself and determine if this is a deal or not. Point blank. Perform your own research. View he property. Run your market analysis and analyze true comps. Then move forward or back away. It’s simple :)

I am a full time investor and wholesale a decent amount of properties per month. I would highly suggest using cash or credit to get into wholesaling, but I would not just go ahead and spend $10k aimlessly without knowing where and how to utilize those funds. We spend $10-$15k per Month on marketing, but have experience in the field and use broad sources of STARTEGIC marketing. Wholesaling can literally change your life if done correctly and I would HIGHLY recommend getting involved! Purchase a lower tiered course and inhale the information, then hire a reputable coach for a decent fee and get going! I am not sure how well off you are now, but making $20-$50k per Month wholesaling is VERY doable! Good luck!

Welcome! BP is a great platform to get all of your real estate answers!

Lots of great info here. It's interesting to hear the many different opinions and strategies. Personally, knowing my market and hot spots, I would invest a good amount into turn-key, cash flowing SFR properties, coupled with a quality property management company that will mitigate a lot of your tenant risk, and enjoy the cash flow while on the beach! In this market (Memphis), depending on where you invest, you can expect a NET annual return of 8%-13%. Again, this is after calculating all expenses. Have fun!

I agree with what Dean H. has said; the excessive tax for multi family is a huge turn off for me. Yes, it’s nice to have all of your “doors” in one vicinity, but at the end of the day, in my opinion, logistically speaking, it makes no difference unless you are self managing. And the costs for multi are much higher than SFR in Memphis. And all it takes is that one neighbor to ruin it for anyone in that complex which could cut into your returns. This is just based off my personal experience

As @curtdavis said, that area is absolutely horrible! If you’re looking to invest in berclair, I’d suggest East of National. Stratford is ideal in my opinion.

It really depends on where behind the Raleigh mall. Memphis is street by street. I literally just sold an amazing property about 2 blocks from the former mall (it ha recently been demolished) in the $80k range that will rent for $1,000/Mo Loads of potential in this particular area.

Welcome! I’d love to meet with you. Swing by the office for a visit! Let’s connect!

We have an amazing market here in Memphis! There are plenty of quality investment properties ranging from 40k-100k