All Forum Posts by: Sean Tagge

Hello @Jason Shotwell, 

Sorry to hear about your predicament. 

I use Doug Beaty he owns Delta Title (just google delta title and you will be able to get their contact info)

He is a great honest and ethical guy and has been in the business for many years he has seen it all. 

I would suggest she has helped out a few of our clients get commercial loans. 

Karen Schimpf
Commercial Capital, Ltd.

http://www.applycommercialloans.com/aboutkarenschimpf

For everyone interested in understanding the Memphis, TN market conditions I suggest subscribing to the Chandler Reports 

Below is their report for August:

"August Real Estate Update

Home Sales

Memphis and Shelby County home sales continued to improve through the summer.

The number of units sold in August was up 14% with 1,957 sales recorded for the month compared to 1,710 last year. Average home sales prices increased 6% to $172,152.

Total home sales volume was up 21% with $337 million recorded compared to $279 million last August.

Through the first eight months of this year, the number of home sales recorded are up 10%, average home sales prices are up 4%, and total home sales revenue is up 14% from the same period in 2016.

For the first time this year bank-owned property sales saw an increase, up 7%, with 147 recorded for the month compared to 138 last August.

Investor purchases accounted for 19% of all home sales in Shelby County with an average sales price of $74,898. 45% of investor purchases were made by out-of-town buyers, with 38 properties purchased by CSMA BLT LLC, the leading hedge fund owner in Shelby County.

Following is a breakdown of August home sales by municipality comparing 2017 figures to 2016:

37% of home sales in the county were valued under $100,000. The median sales price was up 5% from last year to $135,000.

Home sales over $500,000 were up 28% from last year with 68 recorded for the month compared to 53 recorded in August 2016. Home sales valued over $1M were unchanged from last year with 8 recorded."

My partner James Wachob and I currently have a 58 unit apartment listed for sale that is under contract to close end of this month. We are helping a client from Italy purchase a $3M apartment. We have a 6 plex listed and are working on a 33 unit and some other multi listings. I'd be glad to chat with you and see if we'd be a good fit. 

Other broker I have heard of there are definitely several others

Woodyard Realty

I think if rent is above $1000/mo your gonna have a little better luck (for a 3 bed 2 bath home 1200-1500 sqft). So zips like 38135, 38134, 38133, 38016, 38018, east side of 38125 38141. 

38109 is g in good in some parts and rough in some others rent is typically 650-850 in that area so slightly a step down C maybe a C+ neighborhood. 

They often say "your network is equal to your net worth". Real estate is about creating relationships! Networking with other investors can take your business to the next level! Are you just starting out? 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 networking event in Memphis! Nothing sold or presented. Just networking with other like minded entrepreneurs.

When: Every Second Monday of the Month (September 11)

Where: Memphis Investment Properties: 4701 Summer Ave Memphis, TN 38122

Time: 5:00 pm - 7:00 pm

Welcome @Alan Hall glad you are working towards your goals. I used to live out of state but I moved to Memphis because of the great real estate opportunities available here. Fell free to reach out to me if you have any questions or need any help. 

Here are my food suggestions (since you gotta eat well while you're here): 

Central BBQ

BB Kings

Gus' Fried Chicken

Leonardo's Pit BBQ

Redezvous

Thanks  @Alex Hugo

Hello @Kyle Steiner, 

We are a turnkey provider here and have a real estate brokerage as well. It would be well worth your time to check out our operation while you are in town. We currently have over 25 turnkey properties available for you to choose form. From $60k-$195k price ranges. Many of our properties would meet your 1% rule. We also have 38 properties that are listed under our brokerage we could discuss your options and see what works best for you. 

On October 5-8th 2017. Memphis Investment Properties is hosting a unique event in Memphis TN. A weekend of turnkey property tours, speakers and networking mixed with a little Memphis culture. Not only will you see great investment properties but we are bringing in speakers from all over to address various aspects of today’s real estate investing but you will network with other investors and see what Memphis has to offer. 

Please visit the website below for more information. 

https://sites.google.com/jameswachob.com/october-event/home

Please call Sean Tagge and mention Bigger Pockets for a special discounted price 901-500-7517.