All Forum Posts by: Allen Harris

@Mohamed Tamraz, welcome to BP! This is a huge thread with a pretty wide and wild mix of comments and updates. Tyler has given several incredible updates over the past several months and as recently as three days ago. If you're curious about turnkey or Morris Invest in particular, be sure to check out all 15 pages of this thread!

@Eric Redfield Thanks for reaching out! I just sent you a PM.

@Milo Graham, I had my call in September. I spoke with Dave, who said he was in Florida. I didn't have any reason to believe that wasn't the case, but it struck me as odd that such a small company had people across several states. I know Clayton is in NJ, the homes and PM are in Indy, and there was Dave down in Florida. I didn't think anything fishy was going on, but the guy I talked to didn't do a great job selling me on the system, and his follow-up wasn't great beyond the one email he sent immediately after our call. I kind of walked away feeling like the agents who handle the initial calls are not full-time team members, but instead just random call center reps across the country. 

I've been looking at other local Tennessee options and/or possible turnkey companies since then. All that said, though, I still really like Clayton and his podcast. I'm sure many on this thread will disagree with me, but I don't doubt Clayton or his motives. However, I'm wondering if the rapid start-up has put his company in a bind trying to keep up. 

I'm loving this thread, too. It's great to hear about newbie experience with a few different turnkey providers. I'm following another, similarly intentioned thread, too, but that one turned super, super negative and has gotten a bit far from the original goal of the person who started it. I'd love to see more of these with the kind of wisdom, thoughtful comments, and education that this thread is bringing!

@Chad P.: Thanks for the feedback. I agree on wanting good tenants! I'm not familiar with Waverly, but I'll check it out. Sounds like you have a winner! Hope your next auction treats you right!

@James Wachob: Great points. That's what has attracted me so much to turn key for my first purchase. I sent you a PM with some follow up questions. Would love your feedback if you get a sec!

@James Wachob: Thanks for the reply and offer to help. I spent some more time looking at some homes for sale in Jackson, many of which appear to be bank-owned. The prices are great, but I don't know the area at all as a rental market. Any insight into Jackson? 

I'd honestly prefer turnkey, but I'm not sure about Memphis in my price range. Any insight there would be awesome, too. Thanks!

@Elizabeth Wilson, thanks for the feedback. 

Great question about management. I should have put that in my post. Actually, I would want to find a property manager to do that part of it, which I assume is harder the further out you look. 

The debt thing is a personal preference. I like to live debt-free in general, so I'm not really looking at getting several new mortgages on rental properties. I know that will definitely slow my growth in REI, but it's worth it to me to go slow and pay cash.

Where's your $45k property and how's the cashflow?

Hey guys, I'm in deep research mode gearing up for my first REI purchase. I want to start conservatively, and I want to pay cash instead of using loans. That means I'd like to be all-in with my first property for around $40k. Even just a quick Craigslist search around Tennessee shows plenty of homes in that ballpark, but I want to get in a good area for ROI and a long-term hold.

If you have a rental home in that price range in Tennessee, I'd love to hear your recommendations for where I'd be wise to look. Obviously, Memphis gets a lot of attention, but I'd love to hear about other markets. I've done quick searches around Columbia, Lawrenceburg, and Jackson and see plenty for sale, but I'm not sure on how they perform. 

Any insights would be greatly appreciated!