All Forum Posts by: Ben Parrish

In June I purchased a house in East Memphis (Colonial Acres) for $77500.  I completed a full renovation of the property and am now all in for about $107,000.  I have a potential tenant that will sign a 2-year lease for $1500 a month and am in the process of doing a cash-out refinance.  However, I was recently given a cash offer for 170K with no contingencies. Originally I comped the property to be worth $150ARV. I feel this is a very strong offer, and am tempted to take it to have more capital to purchase more properties. What are your guys thoughts?  I guess a large part of me feels that we are going to have a pull back in prices sooner than later? But, timing the market is nearly impossible...  Appreciate any feedback.

Thank you, Landon. I will check that out. 

Looking at a 6 bed 3 bath that has been used as a boarding house. Each room rents for $550 a month. I’m curious as to what everyone’s experience has been with finding new tenants? The property is not in a college area, so it wouldn’t be like student housing.