All Forum Posts by: Jordan Ray

What is a good way to feel out of state real estate agents and others that I will need to build my business. I am not able to fly to meet up at the moment and probably won't be able to for 6 months or so. What are some good questions to ask?? Thanks in advance!

Fully renovated! Large 4 bed 2 bath for sale in Memphis, TN 38109 with $1,595 rent approved by housing. Property is pre-leased pending housing inspection. Approx. square footage is 2,186 and annual taxes are $1,843.92. Asking $174,900. Seller financing available at 5.99% with minimum of 20% down. Photos & Scope of Rehab

 my bad...

i ment University

Hello everyone, my name is Bree I am a new investor looking into get my first rental property and try the BRRR method what tips and advice does anyone have when getting your first rental property? Also, what is the preferred credit score when refinancing does it matter?I have been listening and tuning into real estate rookie for over 2 years now, I have also been on YouTube university and watching and learning a lot about REI for over 2 years now and I am ready to apply what I know and get started my biggest goal is to get another deal under contract I understnad their will be trial an error but I'm excited about this. Is there anyone in my area i can get connected with? I finished my business plan finally recently. I started my LLC in the summer and still working through some kinks getting website started for marketing. Right now we have a schedule for everything we do D4D, sticky notes, we use dealmachine to find leads. I am potentially looking into getting a trailer at the begining of the year getting a trailer that may need some work to rent out. I also would like to get into the BRRRR method. I am ready for all things real estate but starting out I am doing one thing. I have over 30k coming in very soon and working on credit score. Any advise and information is greatly appreciated. I am always opening to learning more i also would like to be pointed in the direction of a reputable financial advisor for business purposes. Thanks in advance. Take it easy i am still a rookie and trying to learn all things possible. I have also read alot of books.

Hello , 

I have a rental property in memphis and now planning to get second one.

I need to understand if I cash-out-refi my first property and put the cash downpayment on second one , Should I consider that as 0% downpayment Or 20% downpayment to calculate if the numbers make sense.

Also suggest if I should do it at this point or wait some more time. Here are the numbers:

Property 1:

Purchase Price - 130k 

Current Zillow Estimate - 166k

Loan Remaining - 100K

Current Interest Rate - 5%

If Refi - 6.38%

Obviously at higher interest rate my EMI is gonna increase , but at same time I am adding an additional asset which would cashflow as well. OR make the downpayment from out of pocket and refi later when interest rates go down ?

I am looking at doing my first remote deal. I am considering BRRR as well as just purchasing a turn key property that cash flows. Any recommendations on how to proceed?

If I go with the BRRR strategy would love to hear some tips on how to successfully manage the rehab remotely.

 hey @Jordan Ray im looking at  MF between the airport and the UN, any help?

Good Morning, I have 5 single Family Houses in Grenada, MS. 1 1/2 hours drive south of Memphis, TN. 30 minutes from Oxford, MS. I am looking to sell all properties individually or together or in between. All well under $200,000 and good cash flow. Partner and I are splitting up and feel it's better this way. Thanks

I am currently liquidating my portfolio, which formerly held my rentals. I was able to package three of them in one deal, which ended up breaking even/not profitable (A little bummed on this one since I think the buyer (an investor) won the better side of the deal in terms of gaining equity on the houses). I have four more that I need to liquidate with a goal of having them all sold by the end of this year. They have been on the market for about three months now and I am working with my realtor to get them sold sooner.

The remaining properties have loans on them with one being free and clear and vacant, two being vacant with mortgages, and one is currently rented with a monthly mortgage payment due. I am trying to see if it makes financial and/or market sense to rehab them and possibly rent them out or just leave them as-is. I am leaning towards as-is due to the lack of funds in my current situation. Once sold, my goal is to have these mortgages paid off from the BRRRR method that I did and move on to different investing opportunities. At first, I wanted to just save it to build up enough investment funds to move to my next deal, but open to suggestions.

Any advice on steps to take to move in the right direction if you were in my position is greatly appreciated. Would like to hear from any investors that have been in this type of situation.