All Forum Posts by: Kim Handelman

Thanks @Caleb Heimsoth. Yes, I've heard it's street by street. That's why I'm going out there. Yes, I've found plenty of multifamily with average rents of $300 and $400 unit. That's not where I want to be. Thanks.

@Curt Davis So funny! I'm meeting Jeff Moore Friday morning! He just sold a colleague of mine a 100+ unit building in Memphis. Glad to get a second thumbs up about Jeff. Seems like a great guy!

Thanks so much for your responses. I live on the CT shoreline and since we're so close to NYC, cashflowing here is extremely difficult. That said, long distance investing makes me nervous. I am a very visual, hands on kind of person. I chose Memphis for 2 reasons. First because I have a cousin who lives there and he owns 72 units throughout the city. If I can't be my own boots on the ground, at least he's there to help. Second because the market is so hot right now I was having difficulty finding a city that would cashflow. What I'm learning is that in Memphis, you have to be careful where you buy but you can still find 9 and 10 caps. Any input you all know about Memphis is greatly appreciated! Thanks!

Hi All, 

I am a multifamily investor looking to invest out of my home market (CT). I am taking a trip to Memphis the end of this week to get to know neighborhoods and meet with brokers/property managers. I am having a hard time finding honest info on neighborhoods. Just trying to choose some areas that are blue collar, working class but safe. Like many towns, I've heard Memphis can vary street to street. Where should I go to get honest information/data on neighborhoods/trends etc.?

Thanks so much! Kim

I"m on the fence. Bought a Guru course a few years back and was completely burned. I've been listening to Michael Blank's podcast and really like his style and knowledge but after listening to his webinar on Wednesday I was really turned off by how "Guru" he seemed to be. I'm thinking of buying the course because I know myself. I need structure and support. I was thinking this might be right for me. Input???

Hey fellow CT investors,

I am looking to start a relationship with a credit union or small bank here in CT. I'm hoping to get in with one that hold their loans in-house and has a good, intuitive, easy to navigate website so that I can do most of my banking online and only go in when I want to discuss loans etc. Anyone have a good recommendation?

Thanks so much! -k-

I'm a realtor and when my buyers move in I always get a galvinized bucket from Home Depot and fill it with handyman stuff. For a renter I would do the same thing but instead of handyman stuff I'd get a basket from Home Goods and fill it with all the stuff that @Account Closed said plush dish washing detergent, Windex you get the idea. If you don't want to spend the time just get them a $20 gift card to a local restaurant and write "Welcome to the Neighborhood" on the card. I love it. This is a networking business. Not just with other investors but with tenants. They will tell their friends and your next property will fill faster!

Hello Fellow BPers,

I am currently looking to buy some turnkey properties. I am a real estate agent in CT and realized that when buying these properties in other states around the country, I won't have a RE agent representing me and will need to get an attorney to represent me. Can I use my trusted attorney here or do I need to have an attorney that works in that state?

I had a conversation with Clayton over a week ago. I waited over a month for my time slot. He called me from NYC in his car. He then proceeded to park the car and pay a valet. Everything was pretty loose. My situation is that I would either buy with my retirement accounts or finance with an asset based lender. I wish he would have been up front and told me he's only looking for cash buyers. Instead, he gave me the name and number of their property management company and told me that he'd send me some properties to look at and the contact info for his lender. I never heard from him. I called his management company and left a message and they never called me back either. I think they may be overwhelmed from all the buzz his BP podcast has stirred up - trying to get systems in place and handle the call volume. 

I then called Norada. I had a great conversation with Ron, one of their reps. I couldn't have scripted a better phone call. He really listened to my situation. He spent an hour discussing markets and different scenarios that might work for me. He was totally transparent. He explained how they make money and answered all of my due diligence questions with honest and concrete answers. I hung up feeling like I knew exactly where I stood and what I needed to do. 

Norada is a better fit for me. They're really buttoned up. This is my first property and it will be a make or break for me. They may not cash flow as much but their properties are in higher end neighborhoods and I feel that it's where I need to be right now.

That's my experience. Hope it helps.

Hmmm, Just thought that through, was that last post promoting? If so please excuse the fopaux! I'm a new agent and am simply excited about where I am. Sorry folks!