All Forum Posts by: John Roesler

Completely agreed on the left out fees / assumptions. The most common one I've seen left out is the tenant placement and renewal fees, often sizeable ( placement commonly 1 month rent). 

I made my own spreadsheet based on the BP calculator, and I plug every turn key I look at into it. I am findind that when they say about 13% COC, its closer to 6-7% COC.

I've since cooled on MIP and decided not to buy the house I was looking at - just wasn't as good a deal as I was originally thinking. Now I'm in the process of closing (have a purchase ageement and due diligence is happening this next week) on a house in Kansas City MO through Rent to Retirement.

I found this gentleman's story to be helpful for things to think about when investing long distance - https://www.jumpinrealestate.com/

@Shane Swanberg I am just going through the process to purchase my first property with MIP. There is already a tenant in this house and so I am looking forward to the immediate cash flow. Great to hear that management and tenant experience has been good so .far. I hope to have the same experience.

Are we talking about https://www.memphisinvestmentproperties.net or https://www.memphisinvest.com ? I didn't realize they were different companies when I was first looking. 

I haven't bought a property yet, but I have had a few conversations with the folks at the Reedy owned Memphis Investment Properties and am getting closer to moving on a property. 

@Shane Swanberg did you buy through Memphis Investment Properties? What was your experience?