@Luke H.If the buyer is living in the property now it’s a consumer loan compared to a loan to an investor and will kick in a lot more regulationsYou can’t do a balloon less than 5 years, need to have it serviced by a licensed servicer, will have to go by interest rate usury laws, collect escrow…..I would not loan on this property to an owner occupant

What kind of resources do you recommend for finding a good first choice? 

It’s also a good idea to network with local investors—there are groups and meetups where you can connect with people who can share their experiences and give you the lay of the land.If you want to chat more about Memphis or need help finding local resources, don’t hesitate to reach out.

The Personal Mentoring program is geared to the folks desiring to be deal sponsors - a sponsor's job is to find a property and collect passives as potential investors.   

@Sarah Larbi Hey Sarah, I'm a newbie here a BP but have been watching Central America for awhile now and found International Living magazine to be a great resource.

A tidy profit, plus confidence to tackle the next project solo.On the topic of self-directed IRAs: While they’re fantastic for gaining experience and diversifying into real estate over time, they can feel restrictive if your main goal is scaling quickly.Here’s what I’d focus on:Using Equity Wisely: A HELOC or cash-out refinance could unlock funds to pursue a flip or duplex without touching your 401(k).Partnering Smartly: Your realtor friend sounds like a great resource.

How will you collect rent when the building's mechanicals are stolen again?

Lastly, if the tenant does become delinquent and we have to file a claim with Rhino Insurance to collect their deposit, we're adding to the financial woes of that tenant and putting them into an even worse financial position when they wouldn't have qualified in the first place.Thoughts?

A handy search bar in the upper right makes it easy to find previous discussions, blogs, podcasts, and other resources.

The city has been doing extremely well and it hasn't quite gone mainstream with most investors yet.Happy to share some resources and learnings on the market there if you'd like.