All Forum Posts by: Dean Letfus

In Memphis the 60 to 90K market is very solid. Rents at the price will be from $875 to $1350 a month

Memphis has some of the best yields in the USA, look here!

This is one of those great impossible to answer questions.
Generally though the answer is the flipper has a well paying job. But unless he invests his profits he will be broke when he stops flipping. The buy and hold investor will have relatively passive income till he dies even with no capital appreciation so the investor will always out perform the flipper in the long run. A good flipper should keep 1 for every 5 he flips then he gets the best of both worlds!

If they left it in good shape thank God and get on re leasing it. It will happen to you often if you build a portfolio, welcome to real estate investment :-)

Hi Chris. If I read your post correctly you are wiling to pay 100K per property and get $1050 rent is that correct?
If so then you are in the wrong parts of Memphis or simply paying too much for your houses, WAAAAAAy too much.

My average buy price would be under $75,000 fully rehabbed and those homes are paying a minimum of $1200 a month, many are $1250 to $1400.
So you may need better help to get into the right deals and maximise your cash flow.

If your money lending business is important to you disclose it and get his OK, or pass. He'll love you, trust you more and that will build your business.

This is all true Phillip so just needs to be factored in to your numbers. All tenants supply their own appliances and have bad credit. It is still a fantastic market to invest in and create cash flow....

Also go to youtube and learn how to use Facebook and Linkedin for leads of both sellers and buyers. I built my entire business more or less from facebook. I am yet to spend a dollar on marketing in the USA other than paying for membership of this site. I don't even have business cards :-)

Maybe we're both sick :-)

Would like your comments on how hard you think we should work in this market. From my Bp blog http://www.biggerpockets.com/blogs/3442/blog_posts/25929-insanity-or-what-it-takes

Interested in your comments re what it takes to succeed in this business. I find that chasing leads needs to be an urgent business as in Memphis right now once a property hits the market if it is a real deal it sells within about an hour.

So I have my emails for example pushed to my laptop, my Ipad and my phone. Now that I have a big screen phone, (Samsung Note 2), I pretty much live on that and I have it alert me of any incoming emails to certain labels. I leave this on 24/7 as often sellers are in different time zones.

It is not uncommon for me to get an alert at 3Am and get up, research it and email an offer to the seller or even ring them.

People are also used to me checking my phone a lot of an evening.

I would say this is getting me an additional deal a week.

So my question is am I a crazy flipaholic who needs to get a life or is this just what you need to do to succeed? What do y'all think?