Memphis buy and hold investment company

[Jack B.]

Hello,

I've been a RE investor for 4 years. I own three houses (two rentals and my primary residence) with a fourth under contract. I was looking to buy 2 more rentals until I saw the add on this site for Memphisbuyandhold.

The cash on cash returns are far higher, and with the cash I have on hand, I could finance 10 or more of these rentals (using a portfolio lender) with 30-50% CoC return. Heck, I could cash out of my other properties and buy 30 of these. Here in the Seattle area property is very expensive and the rents are not that great. It was largely paying cash, buying right, or timing/financing that made my rentals profitable, depending on the rental.

So even on a financed property, I am looking at the same cash flow on a Memphis house, for a fraction of the down payment on a house here. It also seems they have a tile attorney, and property manager built in, so it literally seems turnkey, some of the houses are already rented even. I have not been able to find anything bad about the company after a cursory search online so far, but wanted to see what everyone here thinks.

I could finance 10 properties in Memphis for what the DP on three cheaper greater Seattle area houses DP's are, with the same cash flow for each Memphis property as each Seattle property, and 2-3 times the CoC returns. Heck, I could pay cash for a Memphis house for what the DP on a greater Seattle area house is here. My only concerns are, I have no knowledge of this company, Memphis, or buying out of state real estate.

[Derrick Craig]

Hi @Jack B.

Thank you for posting the forum question about my company. Also thank you @Melodee Lucido  for explaining who I am and your professional experience in dealing with me and my company... 

@Dean Letfus and @Curt Davis   thank you for stating some of your personal opinions concerning homes that are priced @$50k or less and some homes that are priced at more than say $70k etc. You both have great companies and wish nothing but the best for each of you and your companies.

Now back to the original post concerning my company.

Here are 2 links to my bio

http://www.linkedin.com/pub/derrick-craig/62/a41/67b/

http://www.memphisbuyandhold.com/team

The properties I purchase rehab/repair are SFR, Duplexes, and Multi Family apartments that I grew up around. I am a product of the inner city of Memphis as you can read from my bio I was born and raised here in Memphis, many others are not from this city and or don't live here. That is not to say they don't know Memphis and REI!!!

We all have different areas of the city that we invest, I choose to invest in areas where I grew up, attended grade school and attended College.. Le Moyne Owen College GooOO Magicians LOL!! I also still have friends and family that live in the areas I invest. This cuts my risk on investment down considerably compared to other companies. Which raises my CoC return to the numbers you see on my website. Some of my investment properties may be in areas that many feel are bad areas, War Zones, or C or D Class properties which is great for me and my investors because I am able to continue to scoop them up for pennies on the dollar. The people that rent/buy/live in these neighborhoods need a nice place to stay and raise their families as well, it's called giving back to the community that raised me....And also making profitable investment at the same time. I invite anyone to come visit Memphis and view any of my available properties/Leases/Sec 8 HAP Contracts, I will even treat you to some of the World's Best Bar B Q.

 @jack If I was able to get 22% appreciation in my local market along with great Cash flow I would invest there as well.

Thank You for posting this forum Hopefully I was able to answer all of your questions about me and my company if not please PM me or call or email me  from my info below.