All Forum Posts by: Walter Jones

It is a ripoff. Took my money, didn't honor the 30 day guarantee when I tried to get a refund. Zero communication and service. Signed up in September and I can't get them to respond.

What @Alex Evans said!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $160,000
Cash invested: $30,000

Off market tenant occupied SFH purchase

What made you interested in investing in this type of deal?

35K under market value with a long term tenant

How did you find this deal and how did you negotiate it?

Marketing letter

How did you finance this deal?

Local bank financing

How did you add value to the deal?

House was covered in ivy and very overgrown yard. Will do some exterior painting and trim work in the spring

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

No

Just picked up 3 in Memphis. Other markets are intriguing, but I need to feel closer to my properties, neighborhoods, tenants, etc. Maybe one day I'll look at other areas.

From today's NREIA newsletter: Memphis is #5

From today's NREIA weekly newsletter:

Hot off the press. Memphis is #5 in the US.  

@Douglas Spence Memphis has great cash flow. Less so for appreciation, but due to current supply the prices have been going up.

Although I only have 8 doors, I enjoy managing them, and I don't think I'd have as much fun at this if I didn't. I take pride in fixing things quickly and correctly. Maybe it's my restaurant background and getting satisfaction from giving good service. I guess I see my tenants as my kids.

One of the properties I bought came with a 1 year home warranty, and on two occasions the tenants had to 9 days without hot water, and another time a week without a clothes dryer while repairs got approved. Not for me.

I've thought about managing for others, but I couldn't do it if I cared more about their tenants and having a nice place to rent than the owner did.

Does anyone use Avail?  I've been using Quickbooks but the payment fees that used to be free are now 1%, and I want to have the option of passing any fees along to tenants.  Cozy looks good, but I may want to go 100% digital (Lease, docusign, etc. ) with a nice platform that integrates with Quickbooks.  I have 9 doors currently.  Thanks!