All Forum Posts by: Derrick Craig

@Marvin S.

I don't really look to buy in the Cordova area due to the returns are not where I would like them to be. I will look to branch out to see if we can make something happen. Thanks again for the comments.

@Douglas Skipworth

That's what I was referring to when I said  "steering him the right way" with the advice you are giving.. LOL!!

@Sam Liu

I am sorry to hear that happened to you on your first Investment property...  I am sure @Douglas Skipworth will steer you in the right direction because that situation can be a headache.

This is a 4 Bedroom 2 1/2 bath home located in Raleigh area of Memphis TN.

Currently Rented for $950 a Month!!

Property Management Fee $95.00 a Month

Only has County Taxes NO CITY TAXES- $54.26 a Month

Insurance Quote -$62.50 a Month

Vacancy- $57.00

Maintenance- $57.00

CAP EX- $57.00

If purchased all cash no Mortgage you would expect to CASH FLOW- $567.24

4739 Northwood Hills Memphis TN 38128- Video!!

If you are interested in this property or have questions about this property please contact me:

Derrick Craig - 901-212-4476

[email protected]

www.memphisbuyandhold.com

If you need more pictures I have plenty please also view the Video.. Great turnkey investment properties hear in Memphis TN..

Happy Investing!!

@Aldo Cadenas

Memphis is a Great Market for Buy and Hold Investments with Cash Flow..

@Sunil Chauhan

Let me know if I can be of any assistance.

@Jackson Long

Reminder of the above...

@Jackson Long

Sounds like it's a great deal. Also I don't want you to think I was looking to bad mouth the lender that was not the case at all!!! I wanted to see if the lender would possible look at one of my portfolio loans and refinance it for me and the homes that are in my portfolio are over $50k... I would never ever look to get information from someone to try and bring them down/bad mouth them everyone makes mistakes its life no one is perfect... I never would give anyone negative reviews because it doesn't help anyone.

@Jackson Long

Very Good idea especially if you are already managing in this type of area in your home town... Moving to Memphis is a HUGE plus since you are picking up several of these at one time. You will do AWESOME!!

As far as the loan goes I would take the ones out that are under the $50k mark and close on the ones that are over $50k then possibly come back in a few months with the cash flow made from the others to pick them up one by one as a straight cash purchase.. You do run the risk of losing out on them to other investors if they are sold before you gathering up enough cash to purchase them but while you are here managing the others that you did purchase in the portfolio loan you will definitely run into a TON more great deals that it will not hurt as bad as losing them out of this deal trust me deals are all over the city and with you being the BOOT ON THE GROUND you will gobble up the deals left and right... I would never suggest anyone to put themselves in a cash strapped position to get a deal closed regardless of what kind of deal it is you must have adequate reserves and less stress with coming up with cash that you had already allocated to something else until the lender changed guidelines on you at the last minute.. Now screaming and cursing can sometimes relieve some anguish/tension but look at the bright side you still got a deal on some of the properties that are over $50k closing...

If you don't mind me asking can you tell me who is the portfolio lender that you are using... You can PM me if you like..

Kind Regards

Derrick

Job Well DONE!! Congrats!! @Tina Sandoval and @Patrick Scifres