All Forum Posts by: Timothy Lewis

Their are still deals out there to be found! Fort Lauderdale is an excellent place for a house hack. I have a client just close on a duplex that he is hacking in the Hollywood area. 

I knew it wasn't going to cash-flow based off of your first two values: Purchase Price and Monthly Rent. Let me guess, you're buying this from a Turn Key company? 

You may be able to negotiate 8% instead of 10% for PM fees. Vacancy, turnover cost, and your tenant placement fee could be eliminated depending upon whether or not you get a long-term tenant, increasing annual income by about $2675. However, you should always be conservative and include these cost in your calculations, as you did. Due to the fact that all CapEx items are new and the property was fully rehabbed, the money I'd allocate to maintenance and CapEX would be a tad lower. But not enough to make a significant difference. Everything else looks about right. The beautiful thing about numbers is they don't lie!

@Caleb Hojara

Welcome to BP. I'm locate to South Florida and happy to help!

@Jonathan Davis

Congrats for taking the first steps!!

It sounds like you just completed you first semester of RE Auction University and it didn't cost you a penny...AKA a Win in my books. Like previously stated, this journey is about learning and small wins. Stay consistent and you'll lock one down! 

Welcome @Remi Stanislaus and congratulations on becoming licensed.

Good luck on your RE journey and I'm happy to help!

Welcome to the BP Gang!

@Sean Howell can chime in and provide great insight 

Hey @Craig Dieterich

I'm an out of state investor. I've done a a few deals in the Memphis area over the past couple of years. I created this list about a year ago so the quality of these areas have probably changed as Memphis is rapidly growing. Needless to say, it still will provide you a general idea of what areas to look at:

Good areas:

• Raleigh 38128 (try to push as far east as you can)
• Bartlett- expensive, but solid
• Cordova - expensive, but strong. Still some unincorporated areas so those would be county only tax, very rare to find one
• East Memphis 38117, generally solid, drops off a bit south of Quince. E.
• East Memphis - 38111 -generally great, can get spotty when you go too west on the southern part of the zip code near the Orange Mound area. North of Southern Ave is $$ and University of Memphis. This is very street to street from 250k+ homes to shacks.
• Midtown/ Cooper young -38014, similar to 38111. Very complex area. Huge developments and improvements in this area. Really need to know your stuff if you're going to buy here.
• Whitehaven 38116, has its bad areas, but good investment areas. You'll find some rtv opportunities 1-1.5% here with less risk than Frayser. Working class neighborhoods
• Parkway Village and Hickory Hill -38118, 38115 similar to Whitehaven
• Westwood/west Whitehaven - 38109 - some good finds.
• Germantown - $$$, very few deals in general as it is similar to Collierville, maybe some on western edges, but those are very hard to find.

Areas to avoid:

• Frayser 38127
• Orange Mound 38114
• North Memphis - 38107
  South Memphis - 38126, 38106

I hope this helps.

@Raymond J. Rodrigues may be able to help with this