All Forum Posts by: Mike Mosee

Hi Chani,

You are right to question fee structure.  10% is on high side.  We pay 8% & less than you've shown on other fees for great service.    Talk to Mid South Home Rentals (division of Enterprise Realtors, Arlington,Tn) before you signup with quoted company.

Best,

Mike

 Hi Keleisha

If you have SFRs or small multi family we've used Mid South Home Rentals in Arlington,Tn quite successfully for over 12 years & can recommend them highly.

Best,

Mike 

Hi Aaron

We moved 5 years back from Beaverton to southern Oregon to get away from Portland influence.   1031ed property to Memphis & land trusted into series LLCs there, all in Memphis area.   Overall been a good move.  You can contact me if desired.

Best

Mike

My vacancy in Memphis has been anywhere from zero to 30%, currently at 30.   As in every case the area, cost, amenities play into scenario.

Have never been above 30% in last 12 years, usually at 10%

Hi John

Our Memphis experience with 24 doors has been successful because of our property management company, Mid South Home Rentals, Arlington,Tn, division of Enterprise Realty.

Can't speak to others, but they've been solid for us going on 13 years.

Best,

Mike

Hi Marcus

If you're talking about Memphis/Shelby County, we've used Mid South Home Rentals/Enterprise Realty of Arlington,Tn, for over 12 years with great results.  Ask for Chris Peak.

We have both regular & Section8 renters.

I'm a trust but verify guy so I still have picture inspections sent me every 4 months, Cost $75.

Been back there a few times to find everything OK.   Have bought over 15 properties, sight unseen, successfully, on their recommendations.

Best,

Mike

Hi Matt,

We've been investing in Memphis area for over 12 years now.   You are wise to seek a good property manager to both guide you in purchases & will be a partner in your profitability.

I'm a trust but verify guy so we have picture inspections done every four months , cost $75, & well worth it.    Would recommend you talk to Chris Peak at Mid South Home Rentals.  901-282-5445 cell or office 901-451-5201.  We've bought over 25 doors with their recommendations site unseen successfully.

Best,

Mike

Hi Nida

I am very spectacle that the purchase prices you mention are anywhere but war zones.

Most worth considering will start at $100K with rehab necessary.

Please beware

Best Mike

Hi Ryan

Find a reliable property manager for accurate rent rates to determine how the numbers will work. Think you're a little shy on initial cost to find a SFR in C grade area, You're closer to $100k + rehab of $20-30K for a 3/2. We've been investing in Memphis for 12+ years in primarily this asset class with good results BECAUSE we have a great property management team. Can refer if desired.

Like Ko said the first one is the most difficult & then it gets easier to move on.

Best,

Mike

HI Walter

I agree with Engelo.    We have  found a great property management company that is well worth the 8% fee & is responsive to both us & tenants needs.    I'm a trust but verify guy so 3 times a year we have picture inspection reports done so I know the condition of the unit, cost $75, 

Will share information if requested.

Best,

Mike