All Forum Posts by: Joshua Ryan Lindsay

Hello! I'm trying to figure out a way to utilize a large storage building at one of my MTR listings in Memphis. It is in an enclosed gate area that can only be opened from inside the fence so I'm leaning away from using it as storage space while I have other guests staying there. It seems a shame to leave it there empty. Any ideas on what I could turn it into to help generate some extra profit? Thanks in advance!

Hello everyone! I'm trying to figure out a way to utilize a large storage building at one of my MTR listings in Memphis. It is in an enclosed gate area that can only be opened from inside the fence so I'm leaning away from using it as storage space while I have other guests staying there. It seems a shame to leave it there empty. Any ideas on what I could turn it into to help generate some extra profit? Thanks in advance!

Hello Everyone,

My wife and I are about to close on our first short term rental in Memphis, TN. We've been looking at a few different cleaners for our property, but I was just checking in to see if anyone has any recommendations for cleaners in the area. Thanks for your time!

Thanks for the feedback Luka! I'm keeping my eye out for properties in the area.

Hi Sara,

My wife and I are looking into arbitrage in the Nashville area as well. I've found a lot of helpful information on the nashville.gov website. It looks like you need to apply for a permit. I was wondering if you have had any luck in the past few months?

Hi everyone,

My wife and I are working towards getting a few short-term rentals in the Nashville, Tennessee area. Specifically, we were looking to arbitrage an apartment or two to start off. I was just wondering if anyone in the area had any luck doing this and if you have any recommendations as far as location.

Thanks!

Investment Info:

Single-family residence wholesale investment in Port Orchard.

Purchase price: $250,000
Cash invested: $10,000

Single-family residence that served as my first home.

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

I wasn't even pondering a rental investment at that time. It just sort of happened.

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

Found through the MLS before the market started to pick up.

How did you finance this deal?

VA Loan

How did you add value to the deal?

Just regular maintenance. It was basically brand-new with updated appliances when we bought it.

What was the outcome?

Market appreciation was huge in this area. Current ARV ~$450k

Lessons learned? Challenges?

I was tempted to sell it last year and take the profits to buy another home. Since holding, the value has increased over $100k.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I worked with my real estate agent Tracy Wall.

Investment Info:

Small multi-family (2-4 units) wholesale investment in Bremerton.

Purchase price: $376,000
Cash invested: $35,000

Duplex currently serving as a house-hack

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

Saving money for house-hacking. Long-term buy and hold rental. Appreciating area.

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

Found it through the MLS

How did you finance this deal?

VA Loan

How did you add value to the deal?

Renovation of the kitchen to an open floor plan. New roof, flooring, windows, quartz countertops, and kitchen cabinets.

What was the outcome?

Current ARV ~$430,000

Lessons learned? Challenges?

It's VERY easy to go over-budget. Figure out what's necessary and not a "want." I learned the cost of big-ticket items such as roofing, windows, and flooring.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

If your in the Bremerton area, I recommend Tracy Wall as a real estate agent. She's super helpful, knowledgeable, and a fellow investor.

Hi everyone! I’m in search of a lender who will account for rental income with less than 2 years of rental history. Specifically looking to invest out of state in Minnesota. TIA!

@Shawn McCormick would love to know more about the Orlando area. My wife and I are looking for a place in the area and would be open to suggestions.