All Forum Posts by: Douglas Skipworth

What type of property should you buy right now? @Dean Harris recommends one of these 2 types.

Subscribe to the "Investor's Guide to Memphis Real Estate" on Facebook, YouTube, Instagram, or TikTok to learn about investing and to keep up with the Memphis real estate market.

The 1% rule is alive and well in Memphis!

Connect with @Dean Harris if you're looking for a 1%-er.

Why do new investors choose Memphis?  Contrary to popular belief, it's not BBQ or the Blues.

Subscribe to our "Investor's Guide to Memphis Real Estate" podcast to keep up with the latest trends in our market.

News flash!  The housing crash of 2023 has already taken place. 

Do you think housing prices are going to crash?  @Dean Harris and I still don't think so.

To stay in touch with the Memphis housing market, subscribe to our "Investor's Guide to Memphis Real Estate" podcast on YouTube or Facebook.

@Dean Harris told me that he did this to prepare for his retirement. I did the same thing! How about you?

Subscribe to our "Investor's Guide to Memphis Real Estate" to get your retirement back on track.

Though other people on BiggerPockets will disagree with us, I agree with you that Memphis is an awesome long-term market to build wealth in. It has a lot of strong tailwinds going for it such as BlueOval City, which you mentioned.

Your plan is definitely good at the high level. I've seen many people move to a new house and keep their old one as a successful rental (I did this with my first Memphis house and still have it in my rental portfolio 20 years later!). I've also seen many people regret selling their house when they could have kept it as an income property. You don't want to be this person.

Here are 2 items I've seen that limit the scalability and/or timing of your plan.

First, life happens to most people. Once they settle down with a partner and start raising a family, moving from house to house ever couple of years becomes a real challenge.

Second, depending on the monthly mortgage payment (which itself depends on purchase price, down payment amount, interest rate, and amortization period) the market rent might not be sufficient to cover additional expenses such as maintenance, taxes, insurance, and property management fees.

Your plan is 100% doable.  If I were you, I'd go make it happen immediately so you can start building wealth now. Just be mindful of the two obstacles above.

@Dean Harris told me that home prices are going to go up in Memphis when this happens. Do you agree?

Thanks @Jay Hinrichs. I've been heads down focused on our clients and business since Covid, but I recently decided to get active on the forums again.  It's great to be back!

@Alena Diaz, I'm sorry you aren't feeling the love here on BP. 

Is there a specific question or topic your looking to discuss? I've found there are lots of people willing to contribute and collaborate here (if you post about Memphis, I'll be quick to jump in and reply with my $0.02!).

@Zachary Marks, I agree with @Dean Harris.

I've used Will Griffin for over a decade.  He's as good as you'll find in Memphis.