All Forum Posts by: Alex Evans

Hey @David Derus

For your long-term holds I would recommend looking for a market 

1) that is stable 

2) has a high demand for rental properties and a high number of renters 

3) I would also recommend looking into the appreciation that the city has seen as well. There are many cities out there that just provide cashflow or appreciation but there are also some that provide a good bit of both. 

4) A market that has a steady supply of jobs. More specifically jobs that will pay anyone who wants to work enough to rent the standard property in that area. 

These are just a few things I would definitely look at!

Hey @Josh Mills

Welcome to BP! 

What method of investing are you looking to get into?

Hey @James Prather

I would definitely ask your accountant to get an exact answer, but to me, I would look at my tax situation this year and see if the extra costs will help any this year or if it would be more beneficial to include in the next year. If you believe having an extra deduction this year would be helpful then I would go with sooner rather than later! 

Congrats on your first property! Best of luck! 

Hey Vincent, 

We recommend Scott Saunders at API Exchange all the time! 

Where are you looking to disperse the funds of your 1031 once you close on the sale of your current property? 

The 1% rule was a good rule to follow in the past, but as time has gone on as a rule of thumb it does not really apply too much anymore. As everyone else has said there are so many more factors that play into a deal. You have to take into account the tax savings and the appreciation of a property as well to see the overall ROI that a property has.

It is an okay rule to get a quick glance of a property but it will never tell the whole story. 

Hey @Serena Cross

I hope you are doing well and welcome to Bigger Pockets! 

I would recommend Turnkey! I would be more than happy to help answer any questions you have! We help out-of-state investors grow their portfolios here in the Memphis Market! 

Hey @Brandon Kowalski

Welcome to BP and congrats on graduating. I also got into real estate right after I got my MBA in Finance. One of the best ways to get started in real estate is to invest out of state where your dollar brings more value. I definitely recommend reaching out to a few fully integrated turnkey companies to see if they ae a good fit for you! 

We typically inform tenants of rent increases when we start sending renewal notices. For us, that is 180 days prior to the lease end date! We are still doing this at this time!

Hey @David Travieso

It would be my recommendation to reach out to a lawyer in your area. 

In Memphis, if we purchase a property where the tenant is on a month-to-month lease then we can give them a notice to vacate from the property. Once that is given they have 30 days to vacate. Sometimes we do have to take extra steps and go through an eviction. I would 100% recommend getting the rent rolls and current leases and speaking with a lawyer in your area!