All Forum Posts by: Jason Rhodewalt

@Melissa Roybal no I don't believe the lot is big enough for an ADU

@Prachi Metha - I agree with everyone else... finding cash flow in this area can be difficult. Plenty of good tenants and rent/price appreciation but it won't be positive cash flow immediately. I actually recently sold a property in Orangevale to move out of state for better immediate cash flow and I'm looking to sell another in Rancho Cordova. Let me know if you're interested - it would be in the mid to low 4's

Hi Cam - welcome! I'm newer to STL market as well with 2 duplex's that I bought earlier this year and actively looking to acquire more

I'm interested in the same thing. I've bought a number of MLS deals in Memphis but would like to get into whole sale deals

Personally I’m not a fan of town homes because they don’t appreciate as much. Also for renting you may have neighbor issues. Just my two cents 

@Saurabh Kukreja - I have 4 SFH's in the Memphis area. I have a PM at 8% and I usually buy newer homes so I'm more like 5% on capex/repairs total (dunno if that's right or not). I use 4% for vacancy and don't put away for lease up (maybe I should) With that said I have one home I bought for $166k and rent for $1425 on a 2 year lease. With a 20% DP and insurance of $550/year I expect about a 9.6% CoC return and $400/month CF.

To @Joe Splitrock 's point the cash flow and CoC depend a lot on your financing as well

@Carlos C. I wanted to check to see if you ended up using one of these companies? I'm exploring them as well and any feedback would be helpful. Thanks in advance

Wow thats great! Congrats and thanks for updating us. I'm curious where in E. Memphis... what zip or area are you getting $1500/month? I presume its a standard 3/2?

Good problem to have! I agree there's no right or wrong answer but if it were me I'd lean towards holding it because it will cash flow so well. 

I'm with them... I usually see the funds in my bank account around the 10th day of the month following when rent is paid