All Forum Posts by: Todd Lansden

@Todd Lansden

Memphis is a great cash flow market. Properties have appreciated considerably in the last four to five years.. A stable entry level SFR is at 140 to 150k price point. You can still acheive a 1% rental yield. Connect with a few investor focussed agents and learn the neighborhoods first

Hey @Todd Lansden 

I was born and raised here in Memphis and I have loved every minute of it. 

Bartlett is a great area of town to invest in for long-term holds. 

There are some areas of Memphis that I would definitely recommend staying away from though. If you would like to hop on the phone and talk about the areas in Memphis I would love to provide you with any insight! 

Have a great day!

 Todd,

First, great job!  I am in a similar position.  I am under contract for a full cash purchase.  My lender told me that since I am buying the property for cash, we can do a cash-out refinance immediately.  There is no wait because I paid cash for the house.  Typically, it is six months after your start date of putting the asset in service if you financed the property.  I hope this helps.

Wendell

Absolutely, take out a HELOC. Talk you your lender and see what it takes to make it possible. They usually want to see the property stabilized before they loan you the money, takes about 6 months. If it is an investment property they will give 75% LTV

Yes.  It's called a cash out refinance.  Call around to different banks, a smaller bank may be more flexible if this was a recent purchase.  You will either qualify for the loan on your personal income or you may be able to qualify on the property's performance.