All Forum Posts by: Sam Wilson

That is a gorgeous home with a great price! I bet you'll move it quickly. I love that area. So close to M-boro, and yet so secluded. All the best!

Come out tomorrow! Let's chat Real Estate and Goal Setting- or whatever your heart desires to talk about real estate! I am excited to see this grow. Come one come all.

Aaron,

Do you have an address?  Sounds like a dream home. I love Wartrace!

Great meeting this morning! Thanks y'all!

Let's grow this.

You should have run to your insurance agent as soon as you said "I do". It's on my GET IT DONE RIGHT NOW list after we win an auction. Assuming you did this, which it sounds like you did- your insurance should be binding from the moment you wrote the check and the agency acknowledged receipt of the payment for it. It generally isn't contingent upon a physical policy being issued. However, this is a beautiful setup for a real pain in your rear end. i.e. did they give you a receipt? Can the ins co underwrite your purchase for less than what they specified on the initial application because of some "flaw" or whatever they find- esp now knowing they're insuring an ash heap? Sure. Could you wind up in court settling this? Yes.

This is one of my biggest apprehensions regarding courthouse purchases...but I still buy this way. It's just part of the risk! Let us know how this works out...I'm super curious.

Here's a contract for sale:

$94,400

Great house in Manchester TN. 140-150k ARV.

Sits on 2.2 acres.

 Large 2 car garage, 2 bed 2 bath. Good size kitchen. Needs paint, flooring, wall patch.  May want to put up taller fence because of mobile home park next door, but otherwise nice little house on good sized lot.

Rehab estimate 20k.

Please do not disturb tenants.

@Shawn Crawley- For me, these types of HML's have been people I've connected with on a personal level in our REIA meetings, family, etc.

Here's an idea. Perhaps won't work if it's your first and they want you to have skin in game, but if LTV is right- find a HML who will 100% fund the deal (I have them) in exchange for 50% of net profit. You only want to do this when in a jam, as splitting profits suck. Better though to take part of something than all of nothing. Just an idea.

Daniel,

It is 2157 Berkeley Ave Memphis TN 38108. For future reference, you should be able to see that at the top of a listing under Location. Assuming of course that whomever posted included that info.

Thanks for looking! Let me know if you have any questions.

-Sam

I bought this house back in 2014. 3 bed 1.5 bath. It rents for $750 per month with the same tenant for almost 3  years and she is not planning on going anywhere. In 2016 this house cleared a little over $7k after management/ upkeep expenses. It's in a stable neighborhood, prices neither rising nor declining. I need to sell it because of cash needs on other investments.  We've had CrestCore manage it since we rented it- and they do a great job. All we'd have to do is change the bank account that the monthly rent check gets deposited into (plus of course sell the house to you). Full disclosure- I have my real estate license with Adaro Realty.  Also please do not disturb tenant. We can schedule a walk through/inspection after property is under contract. Drive-by only please.