All Forum Posts by: Jason Sousa

I hope this message finds you well. My name is Dzung Doan, and I'm just starting out in real estate investing. My primary strategy is buy-and-hold for rental properties, aiming to create a passive income stream. I have an initial investment capital of about $35K-$50K and a monthly saving rate of around $3K-$5K. I intend to finance my investments primarily through conventional loans, with a 30-year mortgage and a down payment of 20-25%.

One of the markets I've been considering is Memphis, Tennessee. Its strong rental demand, favorable rent-to-price ratios, and growing economy are appealing to me as a potential investor.

As I'm residing out-of-state, I would like to tap into the collective wisdom of this forum to better understand the Memphis market. Specifically, I'd be very interested in hearing about:

The nature of different neighborhoods in Memphis and their respective investment potentials
Your experiences, challenges, and rewards from investing in the Memphis market
Your recommendations for local teams, including real estate agents, property managers, and contractors
Any tips or strategies that have proven successful for you in this market

Additionally, I'd greatly appreciate any advice on potential pitfalls, or critical factors to be aware of when investing in Memphis.

I am eager to make well-informed decisions and start my journey in real estate investing on the right foot. Any insights, advice, or recommendations you could provide would be immensely valuable.

Thank you in advance for your time and assistance. I look forward to learning from this community and embarking on this exciting journey.

Best regards,

Dzung Doan

Here are some answers for you, I also invest in the area and would be happy to share my contacts.

1. Zip codes-

Memphis (*Dont invest in 38002,38106,38108 iffy area)38109,38114,38126,38127*) GOOD Areas **38016,38018 38117,38118,38128,38133,38134,38135,38016, 38111 University area is ok for students and midterm rentals.

2. Memphis is the king of cash flow in my opinion. If you want, there is also a ton of BRRR deals too.
3. I use Renshaw for PM, Odyssey construction for maintenance and two agents, one regular agent and one wholesaler.
4. Build a team first, then invest.

4 Votes

Memphis, Tennessee

ill come to the next one

0 Votes

Austin, Texas

You a wholesaler?

0 Votes

Memphis, Tennessee

Quote from @Dean Harris:

You can cash flow all day in Memphis!

MEMPHIS MEMPHIS MEMPHIS! Show me the money $$$

2 Votes

Quote from @Dan Chapman:

Hello, I have a property in Austin Texas I want to have contract assigned to me then I will wholesale it out. Does anyone know the form or have the form to fill out and have seller and I sign? I am new to this as I have only bought and held long term rentals before.

Thanks! Dan

Send me the info I am a cash buyer.

0 Votes

Quote from @Adrienne Green:

@Jason Sousa all 3 of these markets are solid places to invest! I'd need to know more about you and your goals, risk tolerance, etc. in order to provide specific guidance. What's your risk tolerance? Are you looking at A, B, C class areas? Looking to buy rent ready or value add? Is appreciation a factor at all? Are you going to self manage or use a property manager? All of these factors go into what would be a "win" for you!

A and B neighborhoods, SFR or Duplex, Cash Flow more so than appreciation.

0 Votes

Memphis, Tennessee

Hello,

I am looking to put cash down in these markets and need some guidance on which area works for cash flow and I am looking for a team. Let me know if you can help.

3 Votes

Memphis, Tennessee

Hey there, I live and invest in the area you are questioning. Here is the thing about Buda/Kyle. Both are great markets but I think Buda is a bit better and here is why. Kyle has super high taxes and also the market is booming but it is hard to find a place that even makes the 1% rule. In Buda you can find a similar home that has a lower price to entry and the taxes are a bit cheaper. Also Buda has a more established shopping area and things to do. For LTR it is perfect.

2 Votes

The best thing I have found beyond the price being the lowest, or lower is take amazing picture and write a good copy. When you shop on amazon would you buy a product with terrible photos and a short description? Use emotion in the copy and make the person want to live in your home. Photos should be clear and crisp with good lighting. Use virtual staging software to "furnish" the home.

1 Vote

Cleveland, Ohio

Quote from @Laurel Chauvin:

I worked with a lot of lease leads when I was a new agent. What I found to work best is sharing the qualifying criteria with the potential tenant before offering to show the property. I found that the majority of the leads would let me know if they did not meet certain criteria. Also, check on their preferred move-in date. Some people start looking really far out from when they intend to move.

I have a standard message I send to all leads before showing to make things much more efficient for all parties.

Thank you so much for the tips and tricks. I need to get a conversation going and qualify verbally.

0 Votes

Austin, Texas

All Forum Posts by: Jason Sousa

Jason Sousa has started 5 posts and replied 87 times.

Post: Newbie Investor Considering the Memphis Market

Post: Austin Investor Social Hour

Post: OVER 10 OFF MARKET SFH IN MEMPHIS

Post: Best Cities for Cashflow Rentals?

Post: Austin wholesale deal

Post: Looking to start investing in Tennessee (Memphis, Chattanooga or Knoxville?) HELP

Post: Looking to start investing in Tennessee (Memphis, Chattanooga or Knoxville?) HELP

Post: Buda/Kyle or Fortworth for LTR & long hold?

Post: can't find a tenant

Post: To Show Or Not To Show Before An Application is filed?