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Ouch! - TG4 - 11-07-2017 09:09 AM
Eviction Capitol of the U.S.
RE: Ouch! - FlyingTiger2016 - 11-07-2017 10:10 AM
(11-07-2017 09:09 AM)TG4 Wrote: Eviction Capitol of the U.S.
There's been rising rent in a lot of places. I'm not surprised. This is the unfortunate cost of gentrification. My friends who are landlords have told me how people treat thier homes as well. Sometimes, you can't help but evict.
Also, Memphis unfortunately has a lot of outside investors. [2] The cash deals you can get here are really good.
There's also that weird shadow lending rent to own scam that's popular here that doesn't help. This is a good article on what I'm talking about. [1]
[1] - https://www.bloomberg.com/news/articles/2016-04-07/apollo-s-push-into-a-lending-business-that-others-call-predatory
[2] - https://www.bloomberg.com/news/articles/2017-07-25/single-family-landlords-are-sinking-cash-into-rust-belt-rentals
RE: Ouch! - snowtiger - 11-09-2017 02:10 PM
yeah....My dental hygienist in Oregon and her husband were talked into buying 2 cheap houses in Memphis that had been foreclosed.
When she told me where they were and how she was going to rent them out with a property management company taking care of the details... o boy...I just clammed up. Geezus....I wasn't even sure if she bought houses. Some of it sounded so fishy.
No reason was I going to give her to poke the gums any harder, though.
RE: Ouch! - TG4 - 11-09-2017 03:49 PM
I know of only two local investors in Memphis who have been successful at the residential rental bidness. Tennstud and Reedy. And Reedy learned the trade from Tennstud. They were both “hands on” owners. Memphis tenants, squatters and night crawlers will steal an absentee property owner blind.
RE: Ouch! - karter25 - 11-12-2017 10:42 AM
(11-09-2017 03:49 PM)TG4 Wrote: I know of only two local investors in Memphis who have been successful at the residential rental bidness. Tennstud and Reedy. And Reedy learned the trade from Tennstud. They were both “hands on” owners. Memphis tenants, squatters and night crawlers will steal an absentee property owner blind.
Revid is a pretty good player today.