15M 1031 money to spend

[Matt Huneycutt]

Hey family!  I have a group of investors looking to pull the trigger on 15M worth of Tax deferred proceeds.  They are on a tight deadline as the clock just started ticking.  Looking for 1-2 units that have lots of upside potential.  Deep rehab ok, but not looking to build.  nationwide is Aok.

Thanks in advance.

Matt

[Randall Weatherall]

Memphis has a lot of larger complexes sitting on the sideline with heavy rehabs needed looking for buyers. $2.5M for 170+ doors and about a mil in rehab can get you $525-550 in rent from each tenant in a popular rental zone. At 80-90% occupied, it'd be a $4.9MM listing. Similar situation at $8MM on the market too.