All Forum Posts by: Chelsea Canning

 Absolutely...1000% agree!  The real estate agent I was working with said she would be, but at the end of the day she had no vested interest after the deal was closed. Prop Managers are designed for this.

Ugh..where to start!  I've invested a couple times in TN. The first time was a turn key operation which went very smoothly. You spend a little more on the front end but a good option. The second time I did it on my own. The real estate agent, Renee Rucker, turned out to be a hustler and a liar so let's start there. The service people she aligned me with where the same, and ended up costing me thousands more for the work that was supposed to be done and wasn't.  We ended up going to TN and finishing the work ourselves to make sure it was done. Many head aches later and lost money, the house is still not rented.  Hard lessons on the second one. Unless you have a solid team there, it's really hard to manage it. Property managers can make or break the process. 

Thank you….yes, I figured it was going to cost me more money to deal with this. Ugh. No the “investor real estate agent” did not offer any protections for me as the buyer nor guide me in any way to protect my right to move in. It’s an unfortunate situation. Thank you again for offer recommendations. I’d be happy to accept.  

 I am in a landlord situation where I bought a duplex with intent to move into the unit (“Investor realtor” gave very erroneous info during purchase) but Covid
happened and I was unable to remove the tenants due to the moratorium. Now I would like to move into the unit, I have been upside down in the property all through Covid even though the tenants are paying rent. one of the units is far below market value by the tune of half below. They are good tenants, never miss a payment and have been there for over ten years, approx 12 yrs. The people who rented the property initially are not living in the property, and no names of existing tenants match the original lease.  I’ve tried to read the Rent Stabilization Act, and it’s quite confusing and contradictory in some places. Need help figuring out what to do next.

Jumping on this post…. I am in a similar situation where I bought with intent to move into the unit (“Investor realtor” gave very erroneous info during purchase) but Covid
happened and I was unable to remove the tenants due to the moratorium. Now I would like to move into the unit, I have been upside down in the property all through Covid even though the tenants are plying rent. one of the units is far below market value by the tune of half below. They are good tenants, never miss a payment and have been there for over ten years, approx 12 yrs. The people who rented the property initially are not living in the property, and no names of existing tenants match the original lease. 

Thanks Bob…I thought so. My first house I purchased through them. They were pretty easy to work with and are a well oiled machine. I was on their wait list for another bc I also like the no hassle. They aren’t turning them out like they used too so I bought and rehabbed my own. 

Thanks Bob! I’ll check them out. Doesn’t Midsouth also do turn-keys? 

Thanks Bob. I appreciate the response. I paid $3500 for the roof and about $2500 in total for the flooring.  I paid $1800 for the same flooring plus install in Los Angeles, which seems crazy. I was having a hard time swallowing that but it seems although the costs of housing in Memphis is low, labor is more costly. Good to know!

Any luck on a good Propery manager?

I’m having the same problem. Maybe you can help by telling me what a typical 900 sq ft house roof costs.  Or flooring install for said house?

Thanks Lisa!