All Forum Posts by: Tas S.

Just started using https://www.turbotenant.com/ it gives you a focal point to house documents, gives you a credit report and some other things but it's still your decision to make with the collected information. 

Tenants are a crapshoot in the end either way. Hopefully your state is landlord friendly.

-Tas

@David Lant if you get a little old lady you’d be lucky. If you get a grown man on section 8, pray. Last turnover cost me $7-8k on a $45k house which was way over my budget. I had to break the repairs down to thirds. I still have to pay for the remaining 2/3rds.

Thanks @Mike Reynolds,
It's not a flip. It's my first home for my wife and I. We have 3 rentals in Memphis and we manage 5 doors for my parents (a quad + a condo). I drew this pretty quick. it's not to scale. I can redraw it (I'm an engineer :P )

the green boxes are windows, the red lines are doors or doorways

Thanks,

-Tas

1/2 a house if ur lucky. Maybe 1/3

This may be a dumb question but I haven’t been able to fine a suitable answer. If I add French doors or a sliding door to a bedroom to the back yard does it convert the bedroom to something else? Someone remodeled this house and added a second bathroom but used the space for the hallway to the back yard. Now I have to go out the side of the house to access the back yard. It was listed as a 3 bedroom 1.75 bath when I bought it. Thanks!

I borrowed from my work 401k and paid it back the 5 year loan in 8 months. My goal was to pay it back in 6 months but a vacancy set it back. I'm glad I did otherwise I could have afforded only 2 of the 3 houses I got. Also the more houses helped spread out the risks of vacancy.

thanks for all the great responses! It's a 30 year fixed with no early payment penalty. I didn't realize that my payment would stay the same and that the load would just end quicker without refinancing. I was thinking it was 30 years no matter what and that the payment would maybe go down. Thanks everyone! I'll also talk to my mortgage company this weekend.

Thanks James Wachob :) Carlos is in great hands with you. I was shooting for Jan but we'll probably need to push back to spring.

Hi everyone,

I have 3 houses in Memphis and I'd like to bring down the payments on one of my houses quicker. Can I pay towards just principle as a separate payment or will it just count as an extra normal payment? I've heard both but wasn't sure which was true, if that makes sense.

Thanks,
Tas

Welcome! I'm also an engineer, from Los Angeles. I've been to Memphis twice to look into investing. I bought 3 single family houses with www.memphisinvestmentproperties.net and have been very happy with them. Since you're in Memphis you have more options than just turnkey. Research the different avenues open to you and see which way you want to invest. I chose turnkey so far because i don't have a lot of spare time on my hands. 50-60 hours work + 10-15 commuting takes a toll.

@Adam Paxton It's working out great. I was planning to do a lot more, I only have 3, but now I need to move closer to work so I'm looking to do a house hack pretty soon closer to my job. that will probably tie up my extra cash for a while.