All Forum Posts by: Chris LumLee

I really like these fundamental pieces of advice! 

When I had some rentals in Memphis I used Crestcore for my property management and they were great to work with. 

Depends where. I've heard of instances where I've seen the investor do well long-term and some where the investor has been able to build and sell or just hold and eventually sell if new developments are coming up in the surrounding area. 

I'd definitely look at areas with job centers also. Are companies moving into the area? Are they hiring locally or are they bringing in outside talent? 

 HAHAHAHAHAHA

One idea that I know some people have used is basically originating a loan with the seller where you would set your interest rate and thereby your monthly payment and you would just pay the seller every month. While most people would want to take the cash and run one-time, the draw sellers would have to that is that they're basically getting income every month. Although I don't imagine many sellers wanting to wait 30 years, so you'd probably have to work out a significantly shorter loan term. 

I'd look out of state. Where I'm from, the majority of properties fall under an HOA and sometimes the HOA fee is more than the mortgage itself. Best to look outside of your hometown to see where you can get good cashflow and/or appreciation with as minimal financial angst as you can.

You could also seek out private money lenders to fund your project. 

If you believe you can get it rented out in short order then perhaps a seller-financing agreement. 

 If he wants to try, then let him. I'd probably tell him that I'd like to see this alleged lien. 

The sub should have a beef with the thief, not you. If you can find the thief, sue him.