50% 0FF ARV!!!

[Chaz Reid]

I'm trying to make this as easy as possible...

http://postlets.com/s/3285-boone-st-memphis-tn-38127/11177494

Email or call for any questions...

[Chris Clothier]

@Chaz Reid - If you are open to it, I'd like to give you a little advice. You are posting this property on a public marketplace that is looked at by real estate investors from all over the country and probably the world by now. That is important in this scenario because you are virtually wholesaling a property and it happens to be in a great investment city, but a tough zip code that is going to have challenges.

Anytime you want to wholesale a deal like this and investors form anywhere in the country can look at the listing, you have to be very cautious and super detailed as well as spot-on accurate with your data. You simply cannot afford to earn a bad reputation by putting out bad data. That means, you have to be much more detailed about the necessary renovation, the comps, the estimated appraised value, the picture profile that you show the public. When you put things out to the world and want people to buy from you virtually, you have to give them a reason to have the utmost confidence in you, your data and the deal itself. You need to build a package on the property where all of that data is accessible without anyone having to ask you for it. That is the world of a virtual sales cycle.

I would also stay far away from hyperbole in your headline and the description of the deal itself. Forget all the hype about 50% off and just be super detailed and more buyers will look very closely at your deal.

When you have deals like this one, I would suggest you market it only to local Memphis investors and I would only list the property and your asking price. I would say that you have some information that might be helpful, but every local buyer will be capable of reviewing a deal for themselves. Most won't pay much attention to your numbers or your analysis - only because they will have experience doing it themselves. This is definitely a deal for local buyers only in my opinion.

The brand new investors will most likely stay away or they will pepper you with a ton of questions. I know all about "buyers' responsibility" for due diligence, but in these types of rougher areas, you should do everything you can to sell to experienced investors who know how to succeed and then they will come back to buy more from you. If you limit the sales pitch you will actually be doing new investors a real service by not accidentally selling them into something they cannot handle.

@Curt Davis and many of the other posters are correct on your renovation analysis that is seems low at best and likely has no room for the major work that needs to be done or the code permits that need to be filed, which this property will need a lot of permits. I also agree with @Dean Letfus that all of Frayser is not bad. I try to stay away from the area now because we have concentrated our company on other areas of the city, but there are investors who are able to do well in Frayser. The entire zip code is not bad and there are good areas, but there are also very, very challenged parts of that area of Memphis and it takes a really good property management company that focuses on those rental ranges to make properties there work.