All Forum Posts by: Sean Tagge

Disclaimer: COO and Partner of Memphis Investment Properties

Hey @John Moore. 

Since you asked directly about our company and none of our current clients responded. I would be happy to refer you to some of our current owners and you can talk to them if you want. Also searching in BP you can find other customer reviews about us in other threads. Please be sure to not confuse us with the several other "Memph is" named turnkey companies. 

Real Estate is about creating relationships! Networking with other investors can take your business to the next level! Are you just starting out? Trying to scale your deal flow? Need a mentor, partner, or someone to bounce ideas off of? Looking for private or hard money? Contractors? Deals? Buyers? Don't miss the premier Real Estate networking event in Memphis! Nothing sold or presented. Just networking with other like minded entrepreneurs.

We will be holding this Every single Thursday Morning: 7:30 AM - 8:45 AM 

I just have it scheduled for 12/29/2020 because BP doesn't allow recurring events. 

At Memphis Investment Properties / Reedy and Company

4701 Summer Ave Memphis TN 38122

(Walk in the front Doors facing Summer Ave then Turn Left) (Our office is also the office of Reedy and Company)

Light Breakfast will be Provided for FREE.

Since our company is mentioned here there seems to be some confusion I fee like I should clarify some things. 

#1 @John Roesler Yes correct there are several Turnkey companies in Memphis that have very similar sounding names. Yes you were confusing "Memphis Invest" (now called REI Nation) and our company "Memphis Investment Properties".

#2 @Mark S. I am sorry you were confused about buying from "Memphis Investment Properties" (MIP) and "JamesWachob.com" James Wachob used to be a sales agent at MIP until he left MIP on 1/1/2019 to start his own turnkey company. During the initial part of this thread 2 years ago he was working for us at MIP. MIP no longer has any ties with James Wachob.

No worries @Jerry Johnson We missed you and had some great people to talk and scheme with.  I am there mostly every week I will be gone till next year but we will continue every Thursday in 2020 

@Matthew Terry you'd be able to do a 75% LTV cash out I think is the highest they would go.

I have lenders for a SF cash out refinance you can get around 5% fixed 30 year am. Then after my refinance mine barely cashflows but it still appreciates like 5-6% a year (value $430k) plus I pulled out $90k which I used for some other rentals. 

I'd be happy to refer you to my lenders if you want any to talk to they could shoot you straight on what you would be paying, rate etc, if you could give them an estimate of your credit score and all that. 

I have kinda of a similiar situation with a property that has gained a bunch of equity. Instead of doing a 1031 exchange I just refinanced that property and pulled out a bunch of equity tax free then bought properties with that pulled out refinance cash. So I had my cake and ate it too so to speak. 

So after reading Scott Trenches Blog

https://www.biggerpockets.com/blog/is-the-500-hours-to-learn-investing-worth-it?utm_source=newsletter

I want to ask others who have already spent 500 hours + leanring / networking in real estate what should the top things people should spend their time learning/people meeting?

Here's my thoughts. 

I also think the main knowledge and networking you need are the following: 

Knowledge wise you need: 

1- How to valuate properties (estimate the FMV and ARV You'll get hosed if you dont do this correctly)

2- How to estimate repairs (You’ll get hosed if you are wrong on this) 

3- Estimating rents (again You’ll get hosed if you are wrong on this) 

4- Market Knowledge (You’ll get hosed if you are not familiar with areas) 

Networking wise you need: 

1- People to get you deals (wholesalers, agents, etc) 

2-People to renovate for you 

3-Lenders (Hard money, private money, long term lenders) 

4- Property management 

5- insurance, title cos, etc.

I think these are two different types of knowledge intellectual and social so if you are weak at either it might take you longer or you might never be able to figure it out. So 500 hours might not do it for you if you are really weak in either category. Thus you may need to either partner with someone else or find alternative strategies if you are set on real estate.

We have a small/mid sized group of local investors meet up every week anyone is invited to come for free, free food as well. 

https://www.biggerpockets.com/forums/521/topics/739100-am-mastermind-every-thursday-morning

Hey @Paul Schaefer You're invited to meet up at my weekly meet up. Would be happy to talk with you there personally and give you some advice on how to get started and how I got started 4 years ago. 

https://www.biggerpockets.com/forums/521/topics/739100-am-mastermind-every-thursday-morning