All Forum Posts by: Jackson Long

That is pretty vague.  Is it a trade secret?

@Tyler Tapley is a good guy to talk to.  He exists outside of my generally negative view of how things work "in these parts".

Hey @Dean Harris who are you doing all of those refinances through?

I can already hear the music from Jaws.

The buying/selling aspect of the market right now is chaos.  Curt's comment is interesting because I would almost say the opposite- most people on here who will offer to help you are doing so BECAUSE of a conflict of interest.  But, I've become almost comically cynical in the last couple of years.

Jack Inman is the agent I've used most and is worth talking to.

Finding deals is harder than it was- but you can just put in a lot of time and get around this.

Management is what will make or break you in the long run.

Finding a lender who will do cash out refi's at that price point can also be difficult.  If you were going any lower I would say SUPER HARD, but you are on your way out of the danger zone around the 100k mark.

Where are you investing from?  Have you been to Memphis in person?

I am BACK on the road so I can't give that write up all the attention it deserves.  I secretly think you did it on purpose @Account Closed!  Like a waiter asking how I am doing when my mouth is full!  I can tell I am going to enjoy soaking up the details from a hotel in a day or so.

I did experience a small epiphany when I gave it a first read.  I wish I had thought about this when I did the original write up as it might've (probably not) kept the thread a bit more on track.  The target audience is really someone who already invested in Memphis and isn't happy with the results they are getting.  The question about if one should invest out of state or not was really outside the scope of my essay.

What is the flip side of those numbers?  If 30% of SFRs are investor does that mean 70% are owner occupied?  That seems WAY higher than what I remember from the research I did before we moved out here...  (although I would be quick to believe I just had bad data)

oh no- I was not clear.  Four years ago we did the A to the B.  We are now doing the B to the C.  I was wondering if because there is already an exchange encumbering the property if the process was harder.

@Bill Exeter What if it is a...  "second step" 1031.  Like, we did a 1031 from property A to B and now need to do from B to C?

I don't know where you get your numbers.  Unless I got seriously rooked by the company that did mine or the prices dropped a HUGE AMOUNT in the last four years your numbers are off by like... several hundred percent.

We did a flurry of 1031 stuff a few years ago and parts went well and other parts were a hot mess.  We are getting ready to sell one of the houses and buy a different one and I don't want to pay the piper.  But I've determined the math on using QIs, in addition to the parts that were a hot mess, is such I don't want to use one.  I assumed this was like "doing your taxes" where you are taking your life in your hands without a dedicated professional- but then I read some stuff that sounded like you were LITERALLY NOT ALLOWED to do it without one.  Can someone shed some light?

Being very careful with my wording here as I am looking for direction and advice not looking to make a deal.  Maybe you worked with someone you can tell me about or have an anecdote about your experience that might help.

For reasons I don't think I am allowed to include in this post (how am I doing so far @Mindy Jensen and @Michael S.) I am researching lenders that fit into a tiny slice of this venn diagram (that I will describe and not draw).  Lend in TN/Lend on short-term-rentals/Do cash out refi/long term amortizations and modern interest rates/either very low min loan size or will allow portfolio style batch collateral/bonus criteria- will do 5 unit buildings.