All Forum Posts by: Pouyan G.

Hi BiggerPockets Community,

I've been searching for a comprehensive real estate investment calculator that includes depreciation and offers a full range of investment metrics. I've traditionally relied on an Excel sheet, but it's not always convenient when I'm away from my computer.

I recently came across an online calculator that seems to provide detailed metrics, including Cap Rate, IRR, and others. I wanted to get your opinions: Does it seem reliable and thorough? Also, in your experience, which metric do you find most important when evaluating an investment property?

Here’s the link to the calculator: https://repit.org/real-estate-investment-analysis/

Any feedback would be greatly appreciated!

 I appreciate your points, and I understand there are pros and cons to every strategy, including Section 8. My experience with Section 8 tenants over the years, albeit in a different state, has generally been positive, which informed my decision to apply a similar strategy in Memphis.

To clarify, my Property Management Company (PMC) never expressed concerns regarding the Section 8 approach. In fact, the initial agreement included their commitment to rehab the first property—a commitment they unfortunately did not fulfill, leading me to deploy my own crew for the job.

This situation, alongside their unclear explanations for not moving forward with the Section 8 applicants I sourced, and a few operational mishaps (such as a winterization oversight), have prompted me to reconsider this PMC partnership. I had hoped for a proactive and communicative relationship, especially since this venture into Memphis began as a test before potentially expanding my investment portfolio here.

While I value guidance and have remained flexible, especially given this PMC's extensive experience managing several hundred units, the lack of progress and clear communication after three months—combined with operational issues have left me I'm a bind and seeking alternative PMCs.

I'm open to learning and adapting, which includes considering other PMC recommendations.

I've recently ventured into the Memphis market, purchasing two SFR properties in the 38127 and 38114 zip codes, with a strategy to rent to Section 8 tenants for their benefits of lower turnover and competitive rents. Despite being remote, I successfully managed full rehab on one property and made significant improvements to the second.

However, I've encountered a challenge with my current property management – while they are genuinely nice people, there seems to be a gap in responsiveness and engagement, particularly in leasing these properties to potential Section 8 tenants I've personally sourced.

Three months into this partnership, and with several interested tenants at hand, I'm considering a change to ensure these homes are leased efficiently. I’m looking for a property manager with a strong track record with Section 8 rentals, who is communicative, reliable, and proactive.

Does anyone have recommendations for property managers in Memphis familiar with Section 8, who could help bridge this gap?

I'm want to make offers on mls listed properties by contacting and making an offer through the listing agents but am getting about a 10% response rate to my inquiries.  Any tips or best practices for submitting a purchase offer through a listing agent?  

I've always been intrigued by the strategies wholesalers employ to evaluate properties they're considering, especially when they're remote. As someone looking to enhance my remote investment approach, I'm curious:

1. How do you, as wholesalers, get reliable photos and details of a property that's far from your base location?

2. Do you have a dedicated team/boots on the ground or individual who visits the property on your behalf?

3. How do you ensure the information you receive about the property is accurate and gives you a comprehensive view of its condition?

I understand that each wholesaler might have their unique strategies, but any insights or common practices you can share would be incredibly valuable. Thanks in advance for your wisdom!

I'm looking to purchase investment properties remotely and one of the states i'm considering is Georgia but i've read that GA is one of the states that remote closings may not be possible.  places ive looked have given different answers to this question with some stating that you have to be present in the state for the closing and notarization while some sites state that "remote closings through audio-visual electronic means are temporarily permissible in Georgia."  Where can i find reliable information regarding this as i would like to close on these properties but would not be able to be present in the state to sign something.

 

I'm under contract to purchase a wholesale property (Duplex) and the wholesaler from whom im purchasing has a contract with me and the seller of the property stating that the property will be delivered empty on close of escrow but the wholesaler is now telling (3 days before close) that the tenants in both units don't want to leave and that the owner who is suppose to deliver the property empty isn't much help. i just got the tenants information and am vetting them in consideration to keep them on but they don't seem to want to sign a new lease. At this point i have 3K EMD in escrow but am wondering what my options are and how i can approach the situation.

1) My immediate feeling is that there is a lot of liability here when i didn't get a chance to properly vet the tenants, or get the rent roll or deposit info. would you call this a breach of contract and ask for EMD back?

2 What is the process of providing proof to the escrow lawyer that there was a breach of contract on the seller/wholesalers side to get the EMD back?

2) Any other options you would consider? running a credit check and taking the current tenants month to month?   

 Thanks for that Travis.  You summed up my thinking as well.  In my opinion for my primary residence purchase a inspection has made a lot of sense as I was able to get significant seller credits but for Investment properties being sold as is or wholesale deals it doesn't seem to as much use especially if your reasonably secure thay your getting "a deal".  Thanks again I needed to see if others with more experience had similar impressions.

 Your definately right and I'm not even sure the wholesaler knows much about the property but the comps seem to work out and the property would theoretically cash flow even with a property manager which is not something I could ever say for properties in CA without a very hefty amount down.  

my agent has walked the property and evaluated the deal and her numbers seem to line up with what I found.  I do however understand that there are inherently more risks involved with wholesale properties and out of state purchases and am already seeing the risks pop up during this closing process.  Having said that I didn't want to sit on the sidelines as ive been doing recently and wanted to try my hands at personal direct ownership. 

I dont have a lender at the moment although i plan to refi after the cash purchase is complete.  im doing this deal in cash as theyre asking for a 15 day close so it seems like title insurance is something i have to ask for which i reevently found out the escrow lawyer can facilitate at closing. 

Overall im learning as I move forward and any education is welcome. 

As for this property I had an agent walk through property along with an engineer and am confident in the pricing and expected rents for the property which were confirmed by the realtor.  obviously my calculations have several assumptions but barring unforseen issues with the property which can always happen it seems like a good investment.  Something I haven't been able to identify on the market especially in CA or even Arizona.  As far as turnkey yes that is what I'm shooting for although this property needs some minor fixture replacements and lipstick.