All Forum Posts by: Wesley Read

I always use Barry Less as my agent he is with Crye-Leike. Great to work with!

I've also been looking for a local bank for the Refi of my first BRRRR.

Welcome to Memphis! I actually just closed on my first two deals in Cordova for buy and hold rentals. I would think the best area for AirBNB would likely be downtown from what I have heard about those type of rentals. I am by no means an expert but I would think your biggest weekend is going to be during the festivals. BBQ Fest, Music Fest, etc. I know you are new to Memphis so want to make sure you price appropriately to make the most out of your investment.

Heritage Home Builders are great!

Not to beat a dead horse but I agree with the previous comments. Out of state investors are buying EVERYTHING in the Memphis area right now. Decent deals are  under contract same day. It's tough out there right now. Good luck!

Barry Less from Crye-Leike is great tell him Wes sent you. He helped us quite a bit.

@Chris Majors did you ever find out anymore? This is fascinating to me. 

I am a newer investor and working on getting started and just wanted to say this thread is gold. Everyone has different opinions on what works for them and that's perfect to show all angles.  Just wanted to add input on how great this thread is.

Thank you both for the advice I ended up walking away and decided to keep looking!

We are coming down to the final details of this deal and wanted to see if anyone had any input? I hope I am posting this in the right forum. Should I try and make him get rid of the tenants before I take possession to get more rent or let the longtime tenants stay for less money? There seems to be an argument of how I should handle that.

15 year am and 5 year balloon payment of $25,000. Homeowner and liability insurance in both our names.

3% owner financing

$57500 final purchase price

$5713 down payment

Thanks for any input!