All Forum Posts by: Ryan Alacon

@Bryan Malone thanks for  the advice. I have been narrowing my search in that area including Overton Park area. 

@Kevin Lee Lawrence thanks. I’ll make sure to visit!

Hello BP. It's been a while since I've put my REI journey on hold.

I’ve been doing some market research into some areas and the Memphis TN area is growing on me. I’ve never been to the area but plan to visit in the near future.

I’m planning on focusing on small MF properties 4 up to 8 units (maybe more depending on availability) or multiple duplexes. The usual buy and hold cash flow, value-add play from out of state. I do have friend that lives there and would be a potential partner.

Just wanted to reach out to any Memphis investors to see what their thoughts are on the current market there and any advice for someone new getting into this area.

Any advice on property managers, contractors, or brokers/agents would be helpful too.

Thanks! Happy investing.

@Scott Morongell Thanks for the suggestion. That is on my list to look into. For now, I think I would like to get more involved. I'd still like to be passive, but still have most control over the property. Cheers!

@James Leo Ross great point James. I haven’t looked in great detail personally but I have heard that California doesn’t have the best landlord laws and could take up to 6-12 months to evict a bad tenant. I don’t know about everyone else but 6-12 months without cash flowing hurts.

@Matthew John great advice thanks! I’ll have to check out Detroit.

@Cody L. @Tim Gordon San Diego is definitely an awesome place to live! I haven’t paddled out in a long time. Hopefully my wetsuit still fits! 😂

@Lee Ripma yep, keeping my eyes and ears open for sure. That area and lemon grove possibly good targets.

@Lee Ripma Great insights! I'll definitely keep all that in mind. The distance is concerning and you make a good point about KC being a close flight out. Thanks again! 

@Lee Ripma hey Lee, thanks for the advice. Partnering up is a great idea and one that I was considering. The only thing is to find one. How do you find your partners? I would love to start in SoCal but I don’t have the capital for a decent property so out of state prices are what’s driving me to look there. Ideally I’ll be targeting value add properties in the B markets maaaaaaybe C+. It’s a first investment so I’d like to not have to worry about what comes with C and lower markets. But I would like to pull equity out and invest in the next property. So far Ive been looking at the OH market, particularly Cincinnati. I have a 15-20 year plan and would like to eventually go full time after I accumulate enough cash flowing properties. I’d also like to wait for a correction to hit the market, but don’t know when that’ll come and I don’t want to sit on the side lines for too long.

@Lee Ripma hi Lee! I am still on the fence about investing out of state. I think if I was a full time investor I would have no issues pulling the trigger on out of state. How are you managing your out of state properties? And how was your over all experience with property managers out of state? There are so many horror stories about bad PMs and being only part time and not being to visit the location on a regular basis I feel like I’m a prime target for scammers and/or PMs just trying to make a buck without care of actually looking after the property in my best interest in mind. Thanks in advance! Cheers.