All Forum Posts by: Jonathan McGee

@Joe Applegate Mississippi has great potential! The top areas on your list that we invest in are Horn Lake, Olive Branch and Southaven. Hernando is also performing well. You'll notice that these three cities are the closest proximity to Memphis, because of that they have similar returns with quality tenants and appreciating values. 

  Data, appraisals and property details are a bit harder to look up online for several parts of Mississippi so long distance investing can be more difficult than most but it can be worth it!

Feel free to reach out if you'd like to inquire more!

Contract -

You don't want to miss out on this excellent deal in the hottest investor area of Memphis! This two story 3/2 1400 sq ft. brick single family town home resides in the popular 38141 zip code near Crump Elementary School. Features like newer HVAC (serviced annually), fireplace, fenced yard, vaulted ceilings with breezeway and french doors will make this a hot rental! You can take a look at the recent comps on the same street and see why this is a STEAL!

Recently rented at $850/mo to a long term tenant who just moved out! 

Estimated market value of $99,000. Rent rates between $850/mo-$925/mo.

Rent ready repairs estimated at about $4,000.

Priced for assignment at $72,000 with cash or HML.

Recent comps:

5849 Jardin Pl. Memphis, TN 38141 - Sold $99,900 04/23/2018 - 0.0mi

5854 Jardin Pl. Memphis, TN 38141 - Sold $99,900 04/26/2018 - 0.0mi

4432 Forest Valley Dr. Memphis, TN 38141 - Sold $90,900 01/05/2018 - 0.1mi

Please contact Jonathan at [email protected] or by phone to 901-290-7827 for more information.

Contract -

Don't miss out on this rare opportunity to own this single family home in one of the hottest investor zip codes in Memphis, TN! This brick veneer 3/2 1100 sq ft. investment property resides across the street from Crump Elementary School. You can expect low vacancies with rent rates ranging between $875-$925/mo if not more!

This property features new HVAC, new weatherproof windows, new roof and trim, fireplace, double vanity bathroom and more! 

With an estimated market value of $104,000, this would be a great fit for a cash out refinance investment!

Recent tenant just moved out! 

Priced for assignment at $81,000 cash or HML.

Recent Comps:

4571 Berrypick Ln S. Memphis, TN 38141 - Sold $90,000 05/09/2018 - 0.6mi

4319 Harvest Hill Rd. Memphis, TN 38141 - Sold $86,000 04/19/2018 - 0.3mi

5904 Hickory Greene Cv. Memphis, TN 38141 - Sold $105,900 04/04/2018 - 0.4mi

Please contact Jonathan at [email protected] or by phone to 901-290-7827 for questions or additional details.

Hello @Tim Cronin I can message you with a recommendation to our guy.

Although units can be still be tampered with in a cage, they are still a deterrent to some degree. Depending on what part of the city your rental is in, I'd definitely recommend it!

Hey @Mercedes Bryant and welcome to BiggerPockets! I'm glad to hear you are starting to invest in Memphis as a wholesaler! There is a ton of information here on BP you can utilize to assist you along the way as well as several people you can connect with!

I'd be more than happy to help offer any assistance or tips if needed! Please feel free to message me and we can discuss!

Wish you the best in your success!

Hey @Account Closed I think it’s a smart move to take advantage of the Memphis market while you still can!

With your price range, depending on if you plan to buy turnkey or not, you’d be able to pick up some decent cash flow in B areas like 38135, 38141, 38117 and 38125. You could possibly get in some pockets of A areas like 38016. 

You can fetch similar returns in C+ areas like 38116, 38115 (certain areas) 38122, and pockets of 38128. 

If you want get 2 or 3 properties within your budget, you can scout some C to C- areas like 38118 (north of Winchester) 38128, 38109 (east of HWY 61), 38107 (south of Jackson), maybe some parts of 38127. 

Your A class areas are going to be 38138, 38002, 38017, 38018, 38125ish. 

It definitely helps that you are only a few hours away so you could definitely utilize BRRRR!

Feel free to reach out if you have any questions!

Hey @Michael Ohman and welcome aboard! 

My mother lives in the Philippines so I have to visit every now and then. Awesome place, I’m just not a fan of the flight!

Sounds like you’ve got a solid plan together. I’m a local here in Memphis myself and there are many ways to accommodate your cash flow in this city.

Since you are out of state, it'd be recommended to string together a team on the ground in the market you are wanting to work. You could also consider utilizing a company that presents deeply discounted deals that can be remodeled by them for you to utilize the BRRRR strategy.

Feel free to reach out if you have any questions!

 @Jaleh Ebrahimi Welcome to BP! Good to know you are in our own backyard here in Memphis!

Are you wanting to house hack and live in one of the units in the duplex? If so, then yes as @Curt Davis stated you might want to be close to Cooper-Young or at least in the 38104 area.

   If you do not plan to live in the duplex, then you can usually find some deals on duplexes scattered throughout the city in zip codes like 38111, 38115, 38117 and 38118.

   Memphis is one of those cities where you can own one side of a duplex, and someone else can own the other side. Very odd situation for investors so you're best bet would be to find a duplex owned by an investor who owns both units. 

   Hope this helps and feel free to reach out if you have any questions!

@Zach Lemaster Can you provide seller financing details to me at [email protected]

Contract - 

Don't miss this RARE opportunity to own a cash flowing duplex in the growing 38109 area of Memphis!

This 4/2 duplex (2/1 each side) has two long term tenants collecting $775/mo! This 1380 sq ft. wood frame w/ brick porch home has been kept in decent shape over the years. Features a fireplace, fenced in yard, 2 year old roof, large lot and storage sheds out back. These duplexes are self managed by current owner with 1 year leases. Leases can be transferred to a referred property management company.

This is assignable contract will require a $500 earnest deposit and cash closing.

For more information contact Jonathan at 901-290-7827 or at [email protected]