All Forum Posts by: David Hodge

@Jim Workman yes, let me know how they are once they visit.  We probably won't do section 8 for our first couple homes but possibly down the line.  @Sara Hodge doesn't just live in my town, she lives in the same house as me!  I know, I lucked out on that one!  :D  Thanks for all the great feedback!

Jim Workman how do your sec 8 houses compare to non sec 8? We are thinking about possibly getting a sec 8 house as one of our firsts. We've heard great things from some people and not so great from others.

Jim Workman how do your sec 8 houses compare to non sec 8? We are thinking about possibly getting a sec 8 house as one of our firsts. We've heard great things from some people and not so great from others.

Please disregard. I used Chrome instead of Explorer and it worked!

I'm having problems uploading my picture. After selecting it the wheel spins like it's working but it just keeps spinning. It's only 37KB. Any help would be appreciated :)

Thank you Dean! That is really good to know. The media doesn't always paint an accurate picture.

I am getting close to buying some rental properties in Memphis through a turnkey company and decided to do a little research on natural disasters in the area. It turns out flooding can be really bad there! Has anyone had any major damage on Memphis properties? Does insurance typically cover this? Is there a large premium to insure for this? Are there certain areas to avoid that will decrease the chances of flooding?

Thank you all for the great feedback! I am still researching some turnkey companies in the area and plan to go with the best most reputable one. Thanks again!

I don't have any advice but am interested in the responses because my wife and I are in the same boat. We have an 11 month old and are about to take the plunge!

My Wife and I are planning to pull equity out of our house to purchase out first rental property (possibly multiples). We are most likely going to buy in Memphis. Before we pull the equity out we want to make sure we will qualify for a loan to buy these since we plan to put 20% down. My question is this.. when banks determine whether you qualify, do they take into account the rental income you expect to receive? I'm worried about this because after paying bills, contributions to 401k, etc. we don't have a lot left over. Since the SFHs we are looking at should have a positive cash flow from day 1, this shouldn't matter but do banks account for the positive CF? Im assuming this might depend on the bank? Any insight would be much appreciated!