All Forum Posts by: Jordan Ray

 Hey Jordan,

Memphis and Atlanta are vastly different in my opinion. Atlanta has a thriving tech scene in Buckhead which brings a lot of jobs to the city. The last time I was there in May I counted around 20 cranes in Midtown alone. Midtown, Downtown, Buckhead, and surrounding areas like Chamblee and Brookhaven have exploded in the last decade. Atlanta has many walkable communities and dozens of boutique restaurants centered around new construction apartments. The only way I can see Memphis and Atlanta having similarities is probably in the south side of Atlanta (nearby Hartsfield Jackson). I think the average home sale price in Shelby County is ~$220k and the Greater Atlanta Area encompasses 3 counties; Fulton, DeKalb, and Cobb County. In Fulton Co. alone, the average home price is almost ~$430k. Would be happy to chat in more detail if this was helpful!

I have an issue with a home I purchased in Memphis through Midsouth Turnkey.  I was referred to them through Jason Hartman's Network.  The contract signed for the property was a 90 day cosmetic rehab with some distributions paid and now I am getting no phone calls.  I went to Memphis a couple of weeks ago to visit with Kenny Shaw and some of his people and they showed me some of their projects in progress and gave a rundown on mine.  they told me it only needed a week to get it done.  Now it's two weeks later and they are not returning emails or phone calls.  I reached out to my contact with Hartman's team and they spoke with him.  He told them he was going to reach out to me.  No contact and no returned phone calls.  I have a what's app group with him alon gwith others for the property and it shows he has read my messages. 

So at this point, I will be going to Memphis to take custody of the property and try to get it done myself. Is there anyone on here with good references of contractors that can help me out along with the best property managers in the area for me to visit with to determine who I should hand over operations to once the work is done. I haven't fully been setup yet as I have cash but I will be taking out a HELOC to get the rest of the job done. It's definitely putting a wrench in my life which is the primary thing I wanted to avoid.

Hello BP Community!

My business partner and I are looking to invest in single-family homes and duplexes in and around Atlanta. We're based out of California, but have a solid team in Atlanta, including a contractor and realtor.

Due to the distance, we've had some challenges with in-person meetups. So, we're trying to find other ways to connect with people who are active in the city. 

I'm already part of a few Facebook groups, but I'm also open to chatting or catching up over a phone call. Any advice or insights about the city would be greatly appreciated. I'm here to learn as much as I can.

Thanks in advance for any tips or introductions you can provide. Looking forward to connecting with you all!

Hi there! I'm new to the Woodland Hills area in LA. I am a semi-experienced real estate investor always seeking to learn and grow. I grew up in Memphis where I own 4 long-term rentals that are SFHs. I know the city inside out and lived there for 20 years, visiting regularly. I most recently lived in Atlanta for 10 years where I have one Airbnb and long-term rental that are both SFHs. I also own a 5 unit apartment in Cleveland which I manage with a partner. My last real estate transaction was being a GP in a 144-unit apartment syndication in St. Louis raising $500k for the project.

While I'm not new to BP, it's been a while since I've engaged with the community. I'm looking to connect with like-minded investors for coffee or just a chat over the phone. Please let me know if I can bring any value to you about the markets I've referenced. Cheers, and happy investing!

Hey Miles,

I am currently in graduate school in MEM for physical therapy, and over the last year or so I've been diving into the real estate world by reading books, researching online, etc. I will graduate in about 10 months and want to take any extra time I have from school to learn more about RE. Would love to connect and get some insight into any ideas you may have for learning opportunities, networking, etc. in the Memphis area.

 Is there a place to conduct some general searches though? What if I am not only looking to do quantitative analysis but want to consider some factors that are more qualitative? Do I have to seek out a human for that or is there somewhere that I can go at least for some initial research?

 I’ve heard on podcasts that developing a depository relationship with small local banks could result in more favorable interest rates and more flexible loan products after some time with the bank. 

Investment Info:

Single-family residence wholesale investment.

Purchase price: $86,000
Sale price: $120,000

The wholesale deal for 4390 Annie Mae Cv, Millington, TN, greatly impacted all parties involved. The seller's family, burdened by a vacant and vandalized house, simply wanted to eliminate the mortgage. Discovered by "driving for dollars," the property had an ARV of $215,000 and a remaining loan balance of $86,000. The deal was assigned for $120,000, with the buyer making $5,000, resulting in a $38,000 profit. Coordination with out-of-state family members and affidavit of heirships enabled the cl

What made you interested in investing in this type of deal?

House was distressed

How did you find this deal and how did you negotiate it?

Cold called driving for dollars

How did you finance this deal?

Wholesaled the deal to cash buyer

How did you add value to the deal?

By being the contract holder

What was the outcome?

$33,000 dollar profit

Any investors in Memphis have recommendations on small local banks for business checking accounts?