All Forum Posts by: Humaira Tuly

I am a new investor. I am based to Tampa Florida, recently purchased my first property in Tampa. Because the prices here is too high I am looking into out of state investing. My first choice is Memphis. first reason is the lower entry cost. And a lot of B neighborhoods. Also I love Tennessee it has so many waterfalls :)

My budget is below 150k, I am looking for SFH and duplexes.

1. Any investor friendly realtor would you recommend for that area?

2. Looking for recommendations on good contractors and property managers as well.

3. if you are a investor there, how are the things over there, do you like it?

I would love to connect to other investors of this area. Saying Hi 👋

Thank you

Humaira

Hey Humaira, are you open to any other markets outside of Memphis?

Yes I am also looking into Cleveland.

0 Votes

Memphis, Tennessee

Quote from @Michael Smythe:

Recommend you start with finding a great PMC first. They can make or break the best investment.

Many will know or actually have agents that work with investors.

Many will also handle renovations or know decent contractors.

DO NOT TRUST ANYONE! Remember, everyone will be trying to make money off you.
Always verify whatever they tell you and avoid paying any contractor more than 50% down (try as little as possible).

I love your honest advice!! Thank you!! It’s scary road for sure

0 Votes

Memphis, Tennessee

Quote from @Kristina Kuba:

@Humaira Tuly

Many of the states mentioned are great for cash flow. Have you considered using the BRRR method right here in Tampa? Your 150k is ample to secure a hard money loan on a dilapidated SFR for 50-60 cents on the dollar, and use the remaining for rehab. Then use a DSCR 75% cash out loan to get most, if not all of your money back.

This is not an easy strategy, it will take underwriting and making lots of offers on ON MLS properties and working with wholesalers. But since you already have your first property in Tampa, you know the market. As for trades, I have great luck using Thumbtack. Also, PM if you need a great property management company.

Hey I didn’t consider other strategy yet, my first property loan was basic conventional with 20% down. Would love to connect with you.

0 Votes

Memphis, Tennessee

Quote from @Joseph Stern:

Hey Humaira, I know a married couple that the wife is an investor friendly realtor and the husband is a GC in Memphis for almost 30 years. DM me if you're interested.

Thank you. That’s very kind of you. I will DM you for the details

0 Votes

Memphis, Tennessee

Quote from @Taz Zettergren:

@Humaira Tuly welcome to the forums and congrats on the first post! Memphis is a great market to invest in for long term rentals, I have 5 here and have had a ton of success.

Thank you, would you mind sharing the areas you suggest? Any contacts to share?

0 Votes

Memphis, Tennessee

Hello hello,

My budget is below 150k, I am looking for SFH and duplexes.

1. Any investor friendly realtor would you recommend for that area?

2. Looking for recommendations on good contractors and property managers as well.

3. if you are a investor there, how are the things over there, do you like it?

I would love to connect to other investors of this area. Saying Hi 👋

Thank you

Humaira

2 Votes

Memphis, Tennessee

All Forum Posts by: Humaira Tuly

Humaira Tuly has started 1 posts and replied 6 times.

Post: Out of state investing

Post: Out of state investing

Post: Out of state investing

Post: Out of state investing

Post: Out of state investing

Post: Out of state investing