All Forum Posts by: Nida Kazmi

@Stephen Williams I can help you get connected with a really good GC that specializes in investment proerties here in Memphis. I have personally used them for years on my portfolio

I have an issue with a home I purchased in Memphis through Midsouth Turnkey.  I was referred to them through Jason Hartman's Network.  The contract signed for the property was a 90 day cosmetic rehab with some distributions paid and now I am getting no phone calls.  I went to Memphis a couple of weeks ago to visit with Kenny Shaw and some of his people and they showed me some of their projects in progress and gave a rundown on mine.  they told me it only needed a week to get it done.  Now it's two weeks later and they are not returning emails or phone calls.  I reached out to my contact with Hartman's team and they spoke with him.  He told them he was going to reach out to me.  No contact and no returned phone calls.  I have a what's app group with him alon gwith others for the property and it shows he has read my messages. 

So at this point, I will be going to Memphis to take custody of the property and try to get it done myself. Is there anyone on here with good references of contractors that can help me out along with the best property managers in the area for me to visit with to determine who I should hand over operations to once the work is done. I haven't fully been setup yet as I have cash but I will be taking out a HELOC to get the rest of the job done. It's definitely putting a wrench in my life which is the primary thing I wanted to avoid.

Hi Nida,

I have been very happy with my turnkey properties I have bought in Memphis!  I have been investing in Memphis for about 7 years.  My opinion is that it is a good way to start investing in an out of state area.  These days the numbers on turn key properties in Memphis are getting harder to cashflow especially if you are leveraging the deal.  I agree with others that not all the companies are created equally and I would take the time out to compare them.  I would take a trip and meet with different companies.   I would definitely take a look at the fee structures.  From my experience the maintenance on the properties could really eat into your cashflow.  So I would make sure there is not a big premium on maintenance from the PM.  Overall Memphis is a great area to focus on like always you want to have a great team to work with!

@Nida Kazmi

are you looking to add to your portfolio, or are you looking for your very first investment?

and are you located in Dallas?

@Nida Kazmi

There are properties available on MLS too if you are going the " turnkey " route. There is enough posts on the form about the pros and cons of buying turnkey.

Find a realtor and check the desirable zipcodes. Maybe some listings might interest you.

Another resource is Memphis Investors Group. They have a Free zoom call every friday at 10am Memphis time. Zoom link details on their website.

That said it is way oversold and there is a lot of dark side as well.

@Nida Kazmi

just curious, did you buy something or are you going to?

Midsouth Home Buyers BBB -

https://www.bbb.org/us/tn/memphis/profile/real-estate-servic...

I was speaking to Ashley Smith from Mid South Turnkey Homes today. Very nice lady. They say that they focus on the BRRR method, they handle the rehab (usually 90 days) and manage the properties. They find homes in C to be neighborhoods and rent to section 8 renters. They don't charge a management fee as long as you buy a home from them every year. They charge 8% if you don't.
She made it very clear that they are not Mid South Home Buyers. And unlike MSHB they don't have a 6 month waiting list. 

I am trying to look them up and I don't see any reviews on line and nothing with the BBB. 
Anyone else have any luck finding info on them?