All Forum Posts by: Brenda Watkins

Thank you, Jack!  This needs to be sticky posted to the top!  I appreciate your candor and wish more posts were like this.  Memphis is full of vultures.

I'm a newbie investor, currently under contract on my first Memphis property.  I can attest to doing all the legwork myself. I'm going above and beyond to get this deal done because no one else is willing put in more than the bare minimum.  I have given my realtor and the property management an earful.  I had to terminate this contract before anyone was serious about closing the deal (now we are back on, due to close in about a week).  

This has been a headache for sure.  But damn, glad I didn't buy anything through a turnkey company!

I can't BELIEVE prospective investors don't visit before buying! That's just plain dumb.

I don't know if I'll buy another property in Memphis.  If this deal pans out in real life like it does on paper, I MIGHT be back but right now, I'm currently looking elsewhere.  I think there are other areas with good cashflow that are better than Memphis.

Hello!

I'm a first time investor, currently under contract for a duplex.  Getting info about the property from the property management is like pulling teeth.  I finally received the repair log that indicated a leak.  I asked the PM for the vendor name and number who repaired the leak but she refuses to give it out.  If I'm under contract, aren't I entitled to this information or is this a privacy issue?  At the very least, is it appropriate for me to ask for the work order of what repairs were done to fix the leak (I guess, PM could blackout the info about the vendor)?  I'm just unsure of my rights as a buyer.  I think it's odd that she won't give out the vendor info.  

Advice please!

Thank you.

My real estate agent has recommended a closing attorney that will charge $1300.  Why would I want an attorney vs a title company and is $1300 a typical rate for a $100,000 property?

Hello,

Very new to real estate investing. We are interested in buying a SFR property, $1050/mo rent, in Bartlett for $125k from a local turnkey provider. When I crunch the numbers, using Bigger Pockets rec for 5% repairs, 5% vacancy, 10% cap ex, etc., we end up breaking even, zero cash flow. I've calculated a couple other turnkey properties and found it to be the same. Is this the norm for turnkey providers? I realize we are paying a premium, so, is it worth the investment?