All Forum Posts by: Scott Somerled

How do you know you are getting the typical closing costs and fees on a mortgage?

What should you be wary of on a mortgage for investment property?

@ Thanks that is greatly appreciated. A few questions for you.....

How many properties do you have under management?

What is your occupancy rate?

What do you charge monthly and initially to place a tenant?

Do you own the property management co. in Memphis that you use? As your team is in San Marcos, CA.

What makes you different than any other team that is in Memphis and has all aspects of the operation grounded there?

@Justin B. How does $250/month cash flow on a 70k property give you those numbers? Can you break that down for me/us?

Thanks

Does anyone have experience purchasing or managing a storage facility?

Its also not that easy to find cash flowing properties in markets like Southern California.

One item to make sure you are checking is how much down the property analysis is using. I think most investors prefer as little as possible down. 20-25%, as leverage is one of the reasons real estate is so desireable. Another reason is to borrow as much money as possible at such low interest rates. Some property analysis use 20-25% some use 35-40% keep this in mind when comparing properties and companies analysis.

I also forgot to mention

Meridian Pacific Properties

There is a wealth of information on this forum......but I haven't seen many reviews in or outside of this forum for turn key operations such as:

midsouth home buyers

Memphis turn key

Memphis invest

cashflow savvy

I have a few rentals out of state. I self manage some and have a property manager for a few others. I am looking to purchase and use a property manager in Memphis to increase my portfolio but am not finding much feedback on these companies. I know I can always ask for referrals but prefer to do much of the homework on my own.

For any newer investors a good starting point is to compile a list of questions from each site's FAQs page, and make sure you get all your questions answered from each company.