Before and After Rental for Veteran

[Robert Flowers]

Investment Info:

Single-family residence buy & hold investment.

This 3 bed 2 bath was bought and sold to an out of state investor, whom was looking to invest in Memphis. The property was rehab to accommodate veterans. The property is currently producing 3 times the market rent in this area guaranteed through non-profit organizations

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

It was a good deal for my client and it had the cash flow potential along with meeting the Non-profit organization specifications

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

Through a private owner. All cash at a deep discount. We were able to sale the property purchase, still at 50% below market value.

How did you finance this deal?

All Cash

How did you add value to the deal?

Rehabbing and cash flow production

What was the outcome?

A great property that is producing $1500 a month guaranteed in rental income through a Non-Profit Organization for Out of State Investor. Also giving 3 veterans a safe and quality place to live.

Lessons learned? Challenges?

Getting code to approve electrical and plumbing.. Backed up from other inspections

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

None...