First Deal | Tuenkey in the Memphis market

[Tomer O.]

Hi guys,

Been in contact with one of the reputable turnkey providers in Memphis and I'm looking at this property.

5351 Bruton Ave, Memphis, TN 38135

https://www.zillow.com/homedetails/5351-Bruton-Ave...

It's gonna be a simple buy & hold with Cash Purchase.

built in 1975

3 bed, 2 bath SFH

$1025 est.  in rent

They had a $27.5K renovation that included a new hot water heater and a new HVAC equipment.

The contractor estimates 10+ years remain on the roof, so they chemically cleaned it and serviced it. 

Low Crime Rate on Trulia.

Neighborhood looks nice while walking around on google street maps.

House looks quite smaller then the adjacent houses to the right and left (going left all the way to the corner lot). 

Is that even an interesting point?

Any thoughts about the property?

Thanks,

Tomer

[Curt Davis]

@Tomer O.

I looked up your property and you are purchasing from a very reputable company. I am a little surprised you didnt get a new roof in a $27,500 rehab as you stated. This home being in the Raleigh Bartlett is in a great location. The price you paid for the home, there are other comps that are similar to your stated purchase price.  The rent to purchase price is lower then 1% but sometimes when you start buying in nicer areas that is not always a deal breaker. 

Good luck