All Forum Posts by: David Hutson

Jimmy, reach out to me to see what my availability is. 

Hey Keenan,

Welcome to Memphis.  I'm from the Sacramento area and started investing in Memphis in 2013.  I sold all of my CA properties, moved to the Memphis area in 2019 and purchased many houses here.  It's definitely more of a street by street market with many good areas. 

One thing that may help is our local REIA, Memphis Investors Group. We are a non-profit group and have a lot of investors from all over. We have agents, contractors, wholesalers, etc. memphisinvestorsgroup.com is the link. Reach out when you have a few mintues. I'd be to chat.

If you read the link they are supposed to start a full program which includes registration, inspections and annual fees.  Not sure where they will get the poeple to do all the work.  They will have funding from the stays but it's probably going to fail.

Make sure you add the new short term rental program and taxtax that the city council recently passed but hasn't talked about much.  I'm not sure if they can get the program up and running but it will add several hundred dollars to your annual expenses and have requirements that will be a pain for out of town owners.  https://s3.amazonaws.com/ClubE...   

Basically, the city council is tired of out of town investors buying homes here as they think it's stopping all the local people from buying homes to live in.

There are several good PM companies in town but Mid South doesn't take on other properties.  As a turnkey company they have a true production line to rehab their homes.  They don't want to add other homes that are to the same standard or material.  You can search for my past comments on them over the past nine years.  

You should check out Advantage Property Management.  Talk to Ashley as she is the owner.  That's where my non Mid South properties are managed.

I agree with @Randy Rodenhouse.  We have people who carry notes here in town.  MIG has a handful of members that I'm aware of.  I don't think many people, myself included, would want to assume the notes halfway through the term without a discount.

I think attending networking events here in town would lead you to some investors.  Selling them individually or in a package would depend on the buyers.  I don't think there is one answer.  It would depend more on the amount and how much money they have.  

@Nic S., great, I'm guessing it's the online meeting.  I'll be leading this meeting so get your questions ready.  There will be a handful of investors from MA, TX and OR online who invest from out of state.  I'm from Sacramento so I spent my first six years investing in Memphis from there.

There are plenty of resources and companies here.  It would be helpful if you gave the group some idea of what you are looking for, price point, etc.  Supply is a problem here as it is in Nashville.  Memphis is getting expensive also, compared to the past.

You can search for Memphis and turnkey in BP.  We have many companies.

The Memphis Investors Group (MIG) is the local REIA club. We have about 350 members who are investors, agents, contractors, lenders, etc. The group meets in the evening of the 2nd Thursday of each month. We have subgroups which include dealmakers, two wholesale groups, a women's group, hard money group... memphisinvestorsgroup.com. There is a link to the calendar and other info there.

@Shashank R.,

The group that hosts the Friday lunch at the Butcher Shop is the local REIA group called Memphis Investors Group. That meeting is also held virtually and we have people call in from all over the U.S. Last week we had people from CA, WA, AZ, CT and one other state that I don't remember.

If you go to memphisinvestorsgroup.com we have a calendar with all of the meetings listed there.  Most are free to attend.  I am the VP of the group so feel free to reach out with any questions.

We are meeting today online at 12pm Central.  If you go to the calendar you can register and get the Zoom link emailed to you.