US Property - Bartlett area of Memphis

Have owned a property in Memphis since 2011.
Want to move into minor reno's and flipping in and around the Bartlett area (Memphis).
Anybody out there I can chat with who has done it?
Please, I am not interested in the "too risky" commentary.
Regards
Noeliboy

 

You wont get too much negativity from me, I am a huge fan of US property, its been an amazing ride.

I started investing/buying in US in 2011 and the markets have just gone from strength to strength. The only down side is the distance from Oz, travel time.

We are flipping and developing property in Atlanta and Boston.

I know its a different market, however same principles will apply.

You will need a good team on the ground to manage the project/s and you also need to be on the ground. This has been difficult in Atlanta due to the housing and building boom. Trades are all flat out.

You need to understand the market you are playing in and the sweet spot, what will fly out the door.

Look at comparable sales for this, look at volume and what is selling.

The selling process in US is a totally different beast to Australia, be prepared, its an eye opener. Building inspections are the norm and they go through the property with a fine tooth combe. This is a bank requirement and in some cases they want 2 separate valuations with flips.

We are averaging anywhere from 25-40% profit, it helps that the market is rising. I assume Memphis is experiencing the same scenario. Biggest issue we have is sourcing property.

Last property we sold we got 9 offers in one week.

Check out my media some photos on projects we are currently working on and threads by @Be Developer, he is currently in US not been posting too much, way too busy at the moment.

We will be starting on a project shortly, we purchased on this street, we flip this sort of stuff.

To give you an idea when we purchased on this street we calculated our end value/ numbers on around $380K, sales are now achieving close to $450K and rising
1336 Hill St SE, Atlanta, GA 30315 - 5 beds/3 baths





Atlanta GA - Renovation No. 2

 

@MTR have you ever considered writing a 'beginners guide'?

I know that may be asking you to give away trade secrets for free, but I'd love to read it, and I imagine others would too.

 

Thanks.

I would like to do a blog on US and my experiences to date, but I just don't know how to get started. Perhaps I should start with google..lol

There is quite a lot of info on threads about US and markets that I have posted over the years for those that are interested.

MTR

 

www.squarespace.com is super easy. My girlfriend can build you a blog for a couple of hundred bucks if you want.

I'd read it.

I lived in Austin Texas circa 2010/2011 .. The regret I have in not buying over there then kills me lolol