All Forum Posts by: Dean H.

I read thru the listing very quickly and I come away wondering two things

1. MOLD, It came from somewhere, New roof, Replumb, or crawl space issues will be big $$$$

2. Seller does not prorate taxes, often a keyword that means its loaded with years of back taxes they want to stick you with

I'll let the real experts continue,,,,,,,,,,,

Kevin,

Just to agree with Alex, I have a multi family property 6 miles SE of the alta vista area that is stable for now but if I needed to sell a property it would be the first i'd sell

Another 2 1/2 cents

Kevin,

I own several properties in the Memphis area that are long term rentals. I have a team in place and a couple of years under my belt in Memphis and still would not invest in that area. Like Curt says above way too many issues for remote investing. There are great areas in Memphis don't get me wrong. Frayser is NOT ONE OF THEM

Just my 2 1/2 cents

@Mike Nielsen

Lessons learned so far ( there will be more )

1. Expect credit ratings 600 max for multi family

2. They do not care about your lease

3. Have great property manager that works in the area

4. Do not expect 3 times rent earnings

5. Do not post for rent signs in yard ( see below )

6. Remove water heater when vacant

7. Remove HVAC when vacant

8. Security systems pawn well

9. Dead bolts work great with steel jam plates

10. Get whatever you can up front and go with your gut

Mind you I have done very well in these areas but open your eyes to the fact that this is going to be a challenge.

I do, and will continue to buy and hold in these areas

I'm looking for a RV lot, developed lot, or bare land  with room to construct a building for personal storage. Prefer in the city of Quartzsite or Parker for off season security reasons. Present condition of no concern prefer on power and water