All Forum Posts by: Jason Hopkins

Are you a savvy investor in the Memphis rental market? Are you looking for true off market deals that are deeply discounted? We can offer you those deals in various Memphis zip codes. If you are serious about investing in the Memphis market and are looking for real discounted off market deals please email us for further information. Don't wait, we have deals ready to go today!

Why work with us? Let me tell you why....

We have over 10 years of experience in the Memphis market

We too are investors and know what's a deal and what's not, we invest in the local market

We work with numerous investors who are liquidating their portfolios, and in turn offer those private, non listed deals to you

We have reputable Title Companies in place to make each transition is executed correctly and on time

We can provide you with recommendations for insurance, rehabbers, and property management services

@Azah Che never fall in love with a house/deal.  If it does not feel right then walk away.  Everything about this sounds confusing and something is missing.  Move on to the next deal.

@Eric Hyde  I would suggest reaching out to @James Wachob and @Sean Tagge at Memphis Investment Properties.  

@Seth Holland I normally use the following for my monthly expenses.  I don't think using 10% for all is such a bad idea, gives you a worst case scenario.

Maintenance 8%

Management 10%

Vacancy 8%

Insurance (I found out what it would cost to insure it)

Taxes (I look them up and divide the total by 12)

@Kenneth Jackson I have rentals in 38127 and flip properties in this area as well.  My rentals have done well however I would not recommend you buy in this zip as a out of town investor.

What do you estimate the repairs to be on this one?

@Ben Roberts Dont give up yet, take it off MLS. Try advertising it on here, craigslist, and local FB and REIA groups. You can also try to do a JV deal with another wholesaler to get access to their buyers. Just be sure they know what they are doing.

@Elizabeth Wilson Good point, anything that is a good deal will go higher than my price point.  The opportunity will be those that wont sell and will be returned to the city land bank.

A good PM will send you before and after photos of the repairs.  In addition to that when you receive your monthly statement they will provide you copies of the vendors receipts so that you can see the actually break down of cost.

This mixed use building is in great area of Santa Ana, CA, not far from Disneyland.

Asking $3.9 mil, below replacement value.

Pros:
- In prominent Floral park (house medium $870,000, Median income $71,533), highly desirable area with Million dollar mansions on back street which the Mayor & Chief Police both live there.
- Historical area, no new development nearby.
- Zoned commercial condo, you may divide the floors & sell as individual condos for much more. (buyer to verify).

Cons:
- Although historically fully rented, now kept half empty for user, good time to get it at low price. When all rented, value will increase significantly.
- Carpet needs shampooed.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Gross rent 2015: $309386; 2016 till June: $151855.
10000SF+ spaces available for owner user. Tenants responsible for their own janitorial.
Large unit on 3rd floor has own submeter & separate AC, ideal for NNN.
7 bathrooms/ handicap, 3 kitchens with elevator. 45 parking. Many individual offices can be rented as executive office $3-4/SF. Current net: $132983.

Most tenants pay below market rents. Rates in OC are expected to rise 28% over the next 5 years & is one of the top growth market.
Dense demographics about 39,903, 337,117 and 686,200 people within a 1, 3, and 5-mile radius.

3 minutes to fwys 5,22.
Turn key condition. Renovated in 2008.
Enterprise Zone: P zoning allows many usage.
Priced MUCH lower than replacement cost $295/SF
Roof resurfaced with 100% silicone in 2015. Great for solar.
2nd most populous city in OC, close to Irvine, Costa Mesa & Long Beach.