All Forum Posts by: Tyler Tapley

Quote from @John Salcedo:

I started with a few turnkeys and as my experience and risk tolerance grew, I now do out of state BRRRR projects.

Experience is a very huge factor.  If you are new, stick to turn key.  Even turn key will not be 100% passive. 

Where are you investing?  Glad it is working out nicely for you.

In Memphis---We see a lot of vandalism of vacant houses and we see a lot of tenant neglect.  We are seeing some price appreciation which is great....even the Class B locations still have issues. Overall it is still a very good city to invest with solid returns.

Quote from @Ahmed Hafez:

Hello everyone,
I've done 3 buy and hold rental properties, and now I want to do flips, I need investors and I have some that have shown interest, in addition to speaking to private lenders that are willing to fund 70% of the LTV (based on the desired property)
I'm seeing a lot of deals from wholesalers, but the problem is, some of them close in 2 weeks and some as long as a month, and they don't take conditional offers, and the good ones fly off the shelf really quick.
My question is, how does someone like me close one of those deals within this short period, how do you arrange the equity and financing with little to no inspections sometimes even.
I'd like to know how do I prepare myself to be able to close one of these good deals right away when they are offered to me and many others?

Thank you in advance!

Man those are actually great questions.  I'd recommend you have your financing or cash up front.  Ready to go in no time at all...that is the first thing.  Secondly you have to be very quick and know when it is a good deal. Local agents and local investors can just look at the price and address and see if it is a popular area immediately.  We won't know the condition of the home but can assess photos or drop what we are doing and go look at the home immediately.  Basically you just have to move real quick and make an informed, educated decision.  You should make sure you have a good team in place and bounce ideas off of them.  A strong local agent can tell you what the approximate value is easily and quickly.

It is tough to buy the homes cheap enough to where you can then rehab them and sell them at a profit.  Most of the properties get bid up.  It is competitive.  If you can buy the home at the right price though...yes you can make a lot of money.  Just have to buy the property cheap enough where there is a big enough spread.

Let us know if we can help or assist.

We have about 100 BRRRR examples and case studies we share with clients. We give them the exact address, a video of what it looked like when it was bought, who did the rehab, what the rehab cost, what it rented for, a video of what it looked like AFTER the rehab, who did the loan (who the lender was), etc. We love sharing this information. Good Luck!

Hi

Please send me a list of what you have available.  We have about 800 investors throughout the world...curious to see what you have  and the asking prices, conditions, locations, etc.

Hi

We are very familiar with this company plus their competitors.  They have rehabbed and sold thousands of properties...I think they do a good job of handling the rehab plus they put in "market rate" tenants.  What I mean is...they don't get tenants to over pay and thus the tenants can't afford to stay there long term.

There are a few good management companies in Memphis.  It honestly depends on the area, the property itself (is it Class A, B, C, D)? and if you are wanting to rent it out section 8.

Let me know if you need any further help.  I don't manage properties so I don't have any incentive to give false information.

Yes....I've seen 2/1 properties that have a walk-thru 3rd bedroom being marketed as a 3 bedroom home.  Overall I think the main turnkey companies do a really good job...we definitely need them (they help fight blight, give affordable housing, provide jobs, etc).  Unfortunately we see some smaller level companies try and cut corners.