Knoxville, TN, Duplex w/ Commercial Unit

[Benjamin Barredo]

https://www.biggerpockets.com/calculators/shared/486581/35b3e9df-d53a-466e-983b-4e040897f027

Potential: $850 a month cash-flow and 43.81% ROI. I need a partner

I found a great duplex in Knoxville, TN, just a few miles from the University of Tennessee Campus, the nightlife of the small city and located just seconds from both major interstates that pass through the town.

It's a two story duplex, the downstairs a 2 bedroom 1 bath and upstairs is a 1 bedroom 1 bath. The 1 bed rents for $525 currently and the downstairs rents for $650. There's also a small barber shop on the corner and is attached to the duplex that supposedly rents for $350. Looking at it tells me that it's probably right.

Let me let you in on a little secret. I worked for the current owner and rented from him. He was very close to his retirement years when I did (like 5 years ago) and was in poor health. He owns about 6 or 7 other properties around town. This place has had a lot of renovations done over the years and should be standing strong now.

It's going for $79.9. I'm looking for partners to put up the down payment and allow me to manage it here on the ground. I'll do the legwork, the signing, manage any renovations that might need to be done, manage the tenants and maintenance, etc.

I just need someone(s) to put up the 20% down, keep me on the deed and allow me to buy you out in the future. We can talk all of that later on. For now, I have posted the link to my analysis at the top of this post. If you're interested call me or email me. My contact is on my profile.

I am expecting the current buyer's agent on the property to get a hold of me tomorrow with all of the necessary income and expense reports tomorrow.

Ben