All Forum Posts by: Shawn Campbell

Looking to sell a rental property that I currently own in Bartlett, TN, 38133.  The home is north of stage road and south of Yale road.  Feel free to contact me if you are interested in adding another home to your portfolio.  

@Jeff Dulla   Thanks.  That is a big help.

When purchasing a home is it possible to pay cash for a home and then immediately (without waiting several months) after closing get a loan for the home that you just purchased? I am assuming that if so it would be based on the appraised value of the home and not on the purchase price? Something like what everyone does with the BRRR strategy. For those of you who have cash, what have you found is the best way to approach this?

I wasn't sure where this needed to be posted, but I am looking to purchase some real estate locally here in Memphis to build out my current portfolio. I am open to a wide range of opportunities though I do have some basic criteria to help guide.  FYI - I do live here locally.

1. Package of Single family homes, 2bed/2bath or higher. Not looking to do major renovations unless there is significant upside potential. No condos unless it is a complete multifamily.

2. A Multifamily or several is good. A small apartment complex would be ok, but I would need to look at this differently if it moves into the commercial lending category. 

3. Location - Out of the worst parts of town.

Feel free to contact me if you happen to have something.

Shawn

@Sean Tagge   Great.  See you tomorrow.  

Is this event still active?  I just moved into the area and was thinking about going tomorrow to meet some people.

Shawn

@Spencer Glaser  I just moved into the area.  Do people still meet at the coffee shop on Wednesdays?  Was planning on on going tomorrow to meet some people if so.  

Shawn

Well, not my first post, but my second.  Used my first to provide feedback to someone else.  Little bit of an introduction.  I grew up on the south side of Indianapolis, lived in Orlando, New Haven, CT and now am living in Shanghai China working in the Medical Device Industry in Operations.  My situation is as follows. 

1. I plan on continuing to work as I enjoy my job and am good at it and the income generated is strong as well.  
2. My wife and I are planning to return to the US next year, though that depends on the job so may end up staying in China longer.
3. We have a financial goal we have set for retirement and generating cash flow through real estate is one way we have decided to build on our existing base.
4. Credit Score is high and have a strong cash position to begin investing.
5. Have a current single family rental property in Hamden, CT that is cash flowing well though I don't intend to continue in this market.
6. Have my MBA so understanding of the financial concepts that I hear everyone speaking about on here on bigger pockets makes complete sense to me though I realize that I have a lot to learn.  

Current Goal: ~200,000 Gross from rents over the course of the next couple years though we are still working through the numbers and reading comments on BP to better define our goal.

Current Gaps:

1. Market - Considering Tampa, Orlando, Indianapolis, Dallas as we either have people there or am familiar with the area.
2. Multifamily vs. Single - Am leaning towards multifamily but am not fully sold that there are large economies of scale that occur with things like duplexes or quadplexes.  Interested to hear thoughts.
3. Need strong connections and this is probably my biggest gap.  In China we call it Guanxi (or relationships).  Being over in China this is going to be an important part.  Though need to find Brokers, Management Company, Contractors, etc.  Part of why I think we are all drawn to bigger pockets.  
4. CPA - Currently I have an expat CPA, though I think I will need someone who better understands real estate.

Anyway, long post, but am very happy to be here and look forward to meeting many of you.