All Forum Posts by: Ron Smith

I am trying to buy a SFH in Dallas area and I am told that Frisco,Allen,Plano areas are hot and good for appreciation given all the new companies moving in and what not. I am also told that the housing market there was really hot for the last few years but it has cooled down a bit.

I am trying to fly there to check out some of the above mentioned areas and also will look at Valley Ranch, Keller and Fortworth area in general.

I am looking for a Buy and Hold property around 250k which can cashflow. Is this a good time and a place to buy in the above areas? Any help is highly appreciated. I will  have a property manager in place so the rent should offset this cost as well.

can anyone here comment on the first hand experience with Memphis Invest here? I don't see any big flag on them but at the same time the number should they shared with me are not really going to make anyone jump on them. Their portfolio seems to be in 150k plus range with 100-150 $ cash flow.

@Zachery Buffin

Memphis Invest

well, Thanks for all the replies and I am sure I am not going to splurge 50k basing on a advise from a random guy off internet but what bothers me is why does BP allow people with closed account status to still operate? It is known that they for some reason did break the rules and should completely be banned from participating in any part of the website right?

I am a newbie to this site. I got a colleague request from someone who is Account Closed. Intially I thought like it is a funny user name but looks like this persons account is closed by BP ( perhaps for violating some rules?? ). Anyway the problem I have is I got a recommendation on a turn key provider from this person and I am not sure if this is just some one shilling on the company's name of if it is  a genuine recommendation.

"he wanted a clause that I wouldn't show the property until he gave notice to vacate." 

BAD..BAD....BAD...............PLEASE DO NOT DO THIS. Looks like you are a very lucky person. You are given so many hints about the potential tenant by himself. He asking for so many changes to standard Lease in your area says something bout his past experience. Looks to me that he is making sure all the clauses that got him in trouble in the past are addressed to in your lease. He is trying to protect his interests. 

Please make sure you vet the lease agreement by a lawyer as you were saying earlier.

This tenant would definitely make your life hell. Go with your guts. A month's lost rent is nothing compared to the mental stess and loss of sleep for every little thing that some jerks throw you at. You will find better tenants.

@ Michael P

Care to share the reputable turn key companies' name here or in a private message please?

@Joe V.

Thanks for your advice. How do I go about finding that partner who is involved in the out of state investment? 

I have two town homes currently. One is my primary residence and the other is a rental property. I just barely break even and probably make about $50 a month or so on this rental but it is not a negative cash flow property. I have about 60k that I want to use to acquire another rental but not sure if N.VA is the place to do it as I don't think I can find any decent townhome for $240k which generates cash flow.

My idea is to keep acquiring a few properties  in the next few years which can generate passive income flow.  I am 39 yrs old now if it matters:-)

I have two very young kids and I am not a DIY handyman. I try to work with a handyman every time there is an issue on my rental but thankfully, there are no big issues with it so far...

I also have plans of buying a SFH in this area and making my current town home a rental in a coul

@John M

I have two town homes currently. One is my primary residence and the other is a rental property. I just barely break even and probably make about $50 a month or so on this rental but it is not a negative cash flow property. I have about 60k that I want to use to acquire another rental but not sure if N.VA is the place to do it as I don't think I can find any decent townhome for $240k which generates cash flow.

My idea is to keep acquiring a few properties  in the next few years which can generate passive income flow.  I am 39 yrs old now if it matters:-)

I have two very young kids and I am not a DIY handyman. I try to work with a handyman every time there is an issue on my rental but thankfully, there are no big issues with it so far...

I also have plans of buying a SFH in this area and making my current town home a rental in a couple of years.