Tag : passive income

8 years, 1 month ago 1

The fire damaged house at 7775 Wolf Den is no longer a fire damaged house.  It’s completely put back together and the only way you would ever know there was a fire is by looking in the attic and seeing the roof decking painted white as part of the encapsulation process.  All final inspections have been passed and the house looks great.  We decided to add this property to our rental portfolio instead of selling it.  Not surprisingly, it rented very quickly and we have a tenant moving in a few days from now.  We did a lot of work to this house and it almost feels like new construction when you walk in.  Check out the final walk through video and let us know what you think.  If you want to see what it looked like before, I put the initial walk through video in here as well.

[youtube=http://www.youtube.com/watch?v=5kUwgiR4T-Y]

 

[youtube=http://www.youtube.com/watch?v=6kv3Ls-XVMc]

8 years, 3 months ago 0

We closed on the sale of another awesome renovation.  You know you’ve done a good job when you find a buyer after only five days on the market.  This was one of those houses you fall in love with during the renovation so we definitely wanted to find buyers who would really appreciate the house.  Luckily, we did and they were nice enough to do a testimonial video for us.  Check it out and then watch the video walkthrough and you’ll know exactly why they bought the house.

[youtube=http://www.youtube.com/watch?v=gM8Iu2hnyzU]

 

[youtube=http://www.youtube.com/watch?v=4YrLoz5XVwc]

8 years, 5 months ago 0

Mark Anderson gives you an update on the progress being made on the exterior at the Holmes Circle house.  [youtube=http://www.youtube.com/watch?v=DdgrJfrDj08]

8 years, 6 months ago 0

Check out the video for a quick look at the progress we are making on 421 Holmes Circle.

[youtube=http://www.youtube.com/watch?v=nWxPnf-eW3k]

9 years, 5 months ago 2

The rehab on 4979 Sequoia is finished and it turned out great.  See for yourself:

[youtube=http://www.youtube.com/watch?v=iQBPbByepNE]

9 years, 6 months ago 0

Here is the latest on what’s happening at 4979 Sequoia.  Everything is starting to take shape.

[youtube=http://www.youtube.com/watch?v=IiV_7m00mAI]

9 years, 6 months ago 0
Posted in: News

Ten real estate articles of interest for the week of 3/15/10 – 3/21/10 with a focus on the interests of Memphis Real Estate Investors.

1.  Leaders say Google Fiber Network could transform Memphis:  How awesome would this be?  As a real estate investor, you would think this may lead to more jobs or maybe Memphis would be a more desirable place for businesses to locate here.

2.  Help for homeowners hurts credit score:  Housing counselors say it’s unfair that participating in a loan modification can hurt your credit score, but I think it is fair and logical that it would weaken your score.

3.  Memphis, most other metro areas are suffering through jobless recovery:  More statistics on what seems to be a jobless recovery as well as an interesting comparison to the 1981 recession.

4.  Study: Millionaires few in Tennessee:  No real surprise.  But it’s also a reason why we have very affordable housing here compared to other parts of the country AND why many millionaires in other states choose to invest in Memphis.

5.  Delta’s Cincinnati hub takes another hit, Memphis International well positioned for future growth:  Most of you already know how important the Memphis airport is to our local economy.  Delta  Airlines likes our airport too.

6.  Memphis 42nd of 43 on Green Cities Index:  Sad indeed, but surely there is a huge opportunity here for companies who can get “green”.  The only question is whether Memphians are ready?

7.  Study: Memphis ranks near the bottom for young adults:  Wow.  I didn’t think it was this bad.  On the flipside, this may help to explain why so many people in Memphis must rent instead of buy.  This, of course, creates opportunity for those looking to invest in cash flow rental properties in Memphis.

8.  Mortgage Rates Still Below 5 Percent:  Keep an eye on this as a key Fed program comes to an end on March 31st.

9.  Check this out:  According to projections from Money Magazine, Memphis is the only major city in Tennessee expected to see an increase in real estate values this year. 

10.  Property Transfers: March 21, 2010:  Real estate transfers of $100,000 or more as shown in the records of the Shelby County Register’s Office.

9 years, 7 months ago 0
Posted in: News

Ten real estate articles of interest for the week of 3/1/10 – 3/7/10 with a focus on the interests of Memphis Real Estate Investors.

1.  Foreclosure puts auctioneer John Roebuck on block – After auctioning so many properties over the years, the headquarters of Roebuck Auctions is scheduled for foreclosure sale.  Crazy times, huh?

2.  Tennessee unemployment rate was 10.7 percent in January – It’s unchanged from December but still higher than the national average of 9.7%.  Click here to see how the same statistics can sound a lot worse.

3.  Memphis foreclosure rate rose in January – Very short article with some interesting statistics.  There is no doubt more foreclosures are on the way.  The real question is what impact will it have on the market?  Have prices stabilized or will the foreclosures continue driving down prices?  For real estate investors, it certainly means we will continue to see opportunities in the near future.

4.  SurveyMemphis: Local optimism sees increase – With as tough a business climate as we are in, it is encouraging to see the increasing optimism of local Memphis business leaders.

5.  Ever wonder what the Stimulus Money is being used for in Memphis? – The Memphis Business Journal has compiled the answer.  Follow the link to see all the requests and awarded contracts.

6.  California investor buys Frayser apartment complex – For those of you who don’t know, Memphis is a very attractive rental real estate market for out-of-state buyers.

7.  The Adversity Index – How did we do?  You gotta check out this interactive map.  It seems Memphis, as well as the state of Tennessee is on the road to recovery, though half the country is still in recession.

8.  Memphis ranks high in corporate recruiting – Site Selection magazine listed Memphis as No. 9 for new or expanded corporate facilities.

9.  Memphis developer Rusty Hyneman, partner are ordered to pay bank $2M – This one is worth reading for the comments alone.  Ouch!

10.  Property Transfers – Real estate transfers of $100,000 or more as shown in the records of the Shelby County Register’s Office.

Our website: www.LuckyAProperties.com

9 years, 7 months ago 2
Posted in: News

Ten real estate articles of interest for the week of 2/22/10 – 2/28/10 with a focus on the interests of Memphis Real Estate Investors.

1.  Looney Ricks Kiss files for Chapter 11 – The famed Memphis architectural firm is trying to navigate through tough times.  They’ve had a hand in designing many Memphis landmarks.

2.  Looking Ahead: Wharton gives Rotarians glimpse of future – Most people dislike politics, especially local politics, but when the mayor speaks about future plans and projects, real estate investors should pay attention.

3.  Freddie Mac losses mount, warns of foreclosures – CEO Haldeman warns of a “potential large wave of foreclosures” still to come.  The article also talks of the desire for new legislation so this doesn’t occur again, but it sounds like 2011 is the earliest hope of it getting done.

4.  Commercial real estate raises red flags for bankers – Dire warnings from some corners of the financial industry are predicting a wave of small bank failures as more than $1 trillion of commercial real estate debt matures in the coming years.

5.  Memphis College of Art buys South Main building – A short round-up of commercial projects going on in Memphis.

6.  Commission to limit adult businesses – If this passes, it will be a sad day for a few of our readers.

7.  Memphis named No. 1 for real estate steals – Thats right.  According to U.S. News & World Report, Memphis was No. 1 on the list with a price-to-income ratio that’s below its 15-year average at just 1.17.

8.  Memphis ranks No. 351 in national wealth study – Nothing to be proud of here, but when you see article #7 above, you begin to realize why so many investors from around the world love to buy cash flow rental properties in Memphis, TN.

9.  Existing home sales drop – The numbers were down month-over-month but up year-over-year.  I tend to focus more on year-over-year.  On a month to month basis, there are too many silly variables that can affect the numbers, such as the amount of snow fall.  The impact of this tends to be mitigated when looking at longer term numbers.

10.  Property Transfers: 2/28/10 – Real estate transfers of $100,000 or more as shown in the records of the Shelby County Register’s Office.

Our website: www.luckyaproperties.com

9 years, 7 months ago 0

We started the rehab process on 4979 Sequoia today.  This will be a fantastic property in Memphis, TN for one lucky owner-occupant.  We marketed the property in as-is condition for a short period of time and had A Lot of interest, especially from first time homebuyers looking to take advantage of the $8,000 take credit.  The size of the rehab seemed to intimidate most potential buyers as the property does need a full makeover.  Below is one new video along with two older ones discussing the property.  This is a great time to buy a house in Memphis, but act fast because the tax credit is set to expire at the end of April…and because this will be an awesome place to call home!

[youtube=http://www.youtube.com/watch?v=UrzNQIt_XPQ] 

[youtube=http://www.youtube.com/watch?v=sZ812CiYqpI] 

[youtube=http://www.youtube.com/watch?v=cMN-r2IwGdM]