All Forum Posts by: Mark Hart

@Conner Goodwin I'd also want to know about the current tenants as well.

Were they properly screened? 

How much security deposit did the put down, if any? 

How long is the lease?

Ask for a rent roll to look at payment history

Ask for a list of all the maintenance requests they've called in about during their stay

I hope this helps as there a many good sources with lists of questions to ask under "Due Diligence"

@Scott England If you have any offmarket deals in Memphis shoot me an email!!!

@Kevin Gonzalez Welcome!!! The buy and hold strategy is a tried and true method to build wealth over the long run. Houston is also a great market! 

Have you figured out if you'll be acquiring distressed properties and then fixing them up to rent or simply buying fully renovated homes? It all comes down to how much time you have to put towards this endeavor as well as your comfortability/risk tolerance of the construction world. 

@Daniel Okeefe Make sure you manage the building well because the numbers look tight! 

@Justin Frye Great question! If your rentals are mainly out of state then I would definitely want to hire a PM company. If your rentals are within driving distance then it comes down to how much time you have available. Many investors aren't looking for another JOB after spending a full day at their careers and with their families. 

My recommendation is if your rentals are close by and you have the time then you should try managing on your own to see if its something you like to do / if its worth your time! 

@Thuy Twee Nguyen Welcome! I'm from Denver as well then moved to Memphis to be an active real estate investor because of the same problems you're seeing! I'm glad you have a good lender if you're in need of a back up I'd be happy to refer you to a few more who offer some great rates and even better service. I hear Indy is an incredible market so i'm sure you'll find success. If you need any assistance judging if the team members you put in place seem credible i'd be happy to help! 

@Tom Cotter Congratulations on your current success ! @Melissa Nash is definitely correct you want to stick to a market that is landlord friendly and have a great team in place. Make sure the team owns every part of the transaction (most importantly the PM team). Apartments are also a fantastic way to build wealth since they are valued based on performance which means if you're a savvy investor you can increase your equity quite quickly or vice versa :) Send me a DM if you'd like to chat more about starting with cash flowing SFR then making the jump to Apartment!

@Paul Myers Congratulations on the first one!

@Lloyd Segal Looking forward to the event!

Memphis Investment Properties holds an annual Property Tour every May! You are invited to a day of education (May 17th) where we will learn the Turnkey investment strategy and meet the team! That afternoon we will all board the tour bus and drive to the World Championship Barbecue Cooking Contest for a VIP experience and to sample some of the best barbecue in town.

May 18th we will meet at the office to board the tour bus for a Tour of Properties, where we will see homes under construction, homes that are completed, new construction properties, and many attendees will be able to purchase properties on the spot!

Seats are limited to 30 attendees!

To learn more about our event this May 17th and 18th please visit www.mipmaytour.net

To learn more about our Turnkey Company please visit our website www.MemphisInvestmentProperties.net

or Contact Mark Hart for additional information:

(901) 800 - 6693

Email: [email protected]