All Forum Posts by: John Britt

@Collin Schwartz I would say yes. So far as wanting more security, maybe they want to deter anyone from stealing there packages from their door.

@Paul Nichols since I am also looking for a private lender that would fund a buy and hold, I have thought about this. The answer I came up with is what the private lender willing to receive and what I feel my time, skill and work is worth in the deal. The most I would prefer to give is a 50/50 split, because even though the deal would need there money, but that would would only be initially, where I would handle all the day to day management of the property which would include the accounting. With that being said it would not be worth it to me to settle for less than that.

@Libo L. Can you tell me how you would go about reporting to zillow about a bad tenant? It did not know this was an option.

The city that I live in does not allow Airbnb rentals, although I can go just over to Chattanooga, Tn to buy Airbnb. Does anyone else live in a city that does not allow Airbnb rentals?

@Suetuko Emem Ekpo-Ufot Watch for the return cards and update you list as soon as you get them back.  Until you start receiving calls you might want to skip trace the return post cards to try to get a hold of the owners that you could not reach via mail.

@Cory Jones I have experience in the Memphis rental market, from back when I was living there with my parents.  I was the chaser at that time of the tenants.  LOL.  I am disappointed that this is still happening with people in Memphis.  But since I have left Memphis I have gained some knowledge and experience renting.  The number one thing is to wait for the right tenant, which I know it is hard in Memphis because of the leaving the house vacant an all, but with the right tenant and they are out there even for Frayser you will not have to stay up at night worrying about the tenant leaving in the middle of the night so much.  Second, you should not be using your time to run down tenants for rent payments.  I know my father did that, but he had me once I could drive to do it for him.  Which allow him to focus on other things.  

Cory you are correct that East Memphis will have higher property values and have a better chance of appreciation, but you can build a good portfolio in Frayser.  But you might also want to consider Midtown as well, especially the Snowdon Elementary school district.  When I was at home back in March or January I was so surprise how many students and parents were walking their children home from school.  This school was an excellent school when I was living in Memphis.

@Ilan Friedman  Memphis Invest is a very establish company that has been around for years now.  I have not heard of Morris Invest until this post.  But they are not the only company in Memphis that I would recommend you looking into.  MidSouth Homebuyers, and Memphis Cashflow are two other companies I would suggest you look into as well.

@Darlington Agu  I would be careful on buying in Memphis.  I am from Memphis and love the city.  I also wholesale properties there still, but one of my investors is pulling out of Memphis because he did not get the values on the refinance as he thought he would get.  Other than that, Memphis real estate has made multiple people millionaires.

I decided to create this post because I understand that it seems like so many new investors make the mistake of rushing to find a tenant for their property without taking the time out to do background check.  It is so important to have a standard for all perspective tenants.  The more leg work you do up front the less headaches you will have later, in some cases the later could be as soon as a couple of months.  

These are some of the requirements that I have:

- The rent that I am asking for can not be more than 30% of there monthly income

-Require an application from all perspective tenants

-Positive feedback on the last two landlords

-No pictures of using or displaying illegal drugs on there social media profiles

If anyone else has anything to add please comment.

Hi everyone,

I like to know where to get started, I have a small opportunity in the Memphis market (42 units).  The only thing that I know is that syndication would be a great way for me to participate in acquiring an apartment complex.  But I don't know enough about it, and I am not sure where to being.  Plus me and my partner in Memphis are in the middle of talking to this owner about his apartment complex that he has not improved in a year of owning it.  Can any one point me in the right direction or come along with us, to put this opportunity together?