BRRRR Memphis / Birmingham

[Jarod Flanagan]

So I've been reading everything I can about BRRRR, which led me to the BiggerPockets forum, where I finally found the people and information I had been looking for. After crawling through the forums for months and talking to people, I've narrowed down the choices to Memphis and Birmingham to begin executing my investing strategy. I have lenders and money in place, just trying to nail down some good properties. If there are any good agents/contractors in the area, I would love your contact information in hopes of working with you in the near future.

Beyond this, I'd love to hear from the gurus and pros in these areas. How do you feel about these markets? What makes them so attractive to YOU specifically (like I said, i'm already interested so I have my reasons, but I'm always wanting to learn more). What zips are the best zones right now? Where are the best C and B class neighborhoods? Is section 8 tenants more or less a requirement? If so who are the best property management teams in the area to facilitate this? I have so many questions, I will continue to read these forums and learn everything that I can, but I'd definitely love to hear from any pros about their experiences in these markets.

I'd also love to hear from people getting started out much like myself. Let's get to know each other, we might be knocking around in the same areas for some time to come eh?

Any lenders that want to speak I'm more than happy to, I'd love to meet anyone that I can in this industry. I do have some in place already, but maybe I wind up liking your or your rates more, who knows! Let's talk, I'd love to speak with experts about anything. I want to learn more, that's the plan. That's what I love about this website, I learn so much every time I visit.

Thank you all for your time and input, it's great to find such a wealth of knowledge like this community has.

[Curt Davis]

If you plan on doing this strategy you certainly have your work cut out for you. Buying from a turnkey won't be an option so you will most likely need a Realtor who is familiar with real estate investing.  You also need a legit contractor referral.  For lenders, I suggest going with the following: Aaron Chapman of SNMC, Nina Harrison of Motto Mortgage.   

This purchasing method is how I purchased my first 20 buy and holds.   

You might want to reach out to Dean Harris of CrestCore. He is local in our market and there is no conflict of interest as he could act as your agent for possible homes for sale on the MLS as well as off-market listings that come his way.

Make sure you only purchase in a high C or B area. This is obviously subjective based on personal opinion. 

Good luck !!