All Forum Posts by: Seth Holland

@Zack McCoy, the one we're living in is our first, but we are doing the same plan as you so we've already bought another rental on the side.  We will be getting very good at moving.  :-)

As @Sam Wilson said - come out to MIG and your network will explode.  Since we are full time W-2 workers, we don't make it out to the meetings happening during the mornings/afternoons, but we're always at MIG meetings.

Hi Zack, welcome to the community.  My wife and I are currently living in a house we bought to fix up, then rent out later.  We've done some work ourselves, and hired out other work as well.  This strategy is does have it's advantages as far as financing options go, and it gives you a little time to get the house ready.  However, time is a double edged sword if you're flipping.

Sarah P. just published an article about using Thumbtack.com for her contractor vetting.

https://www.biggerpockets.com/renewsblog/contracto...

@Jimmy Warr - did you find anything you could use?  

Did you check the "file place" that's part of BP?  It's under the tools toolbar.  Might give you a good starting point anyway.

Thanks @Kuba F. for your insight.  This actually isn't the area I'm looking to invest in right now, just thought it was interesting and had the question.  Maybe once I get more experience/better network/more cash I can think about tackling one of these.

Thanks @Andrew Johnson - that's a good point.  I think to get into that market I would absolutely have to partner with someone.  Memphis is very unique, and I have much to learn.

Hello Everyone,

I was recently sent a property for sale in a rough neighborhood in Memphis. This is really close to the UofM campus so it definitely has potential to be a great rental. However, how do you run comps on such a house in such a neighborhood and not seem crazy to a lender? The neighborhood is old, crime is higher but not war zone, and a lot of investors are picking up houses. So with all that being said, all the surrounding houses are being sold for 50k or less. The person selling as well as Zillow (i know, don't trust Zillow's estimate) want me to believe the ARV is over 100k. I speculate this area to turn over to near 100% investors fixing up the houses so maybe this house could be worth 100k someday, but what about today? The real question is: am I wrong in thinking the ARV as of today is only 50k?

@Elizabeth Wilson

Not sure if this will get you what you need, but you can change the layers at the top right hand corner.

http://mapgis.memphistn.gov/Applications/DPDGov/

Hi @John Miller - currently looking at SFR in the suburbs of Memphis. From what I can tell, the majority of multifamilies are in Memphis proper. Although we'd like to get in to Multi's rather than SFR, we want to get some experience being landlords before tackling Memphis. Right now we're using Jay Scott's book The Book on Estimating Rehab Costs, but we'll be keeping a spreadsheet to get trends from later. My hope is to get to the point where we can use a $/sq ft number (for Memphis anyway).

Thank you @Andrew Syrios!