South Memphis Investment

[Matthew Cates]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $12,500

Cash invested: $6,500

Rent: $564

This is a 3/1.5 in a quiet part of South Memphis.
- new electrical box and run a new line from the house to the street
- installed new vinyl windows throughout the house
- installed two new interior doors and 1 exterior door
- had some minimal plumbing work done

What made you interested in investing in this type of deal?

It was a great price and it already had a reliable tenant living there.

How did you find this deal and how did you negotiate it?

The owner called me from one of my wholesaling postcards.

How did you finance this deal?

I paid cash.

How did you add value to the deal?

I made some repairs to the property that added a 3rd downstairs bedroom.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Integrity Electric