Before and After Rental for Veterans

[Robert Flowers]

Investment Info:

Single-family residence buy & hold investment in Memphis.

Purchase price: $12,000
Cash invested: $24,000

This particular property was a burn out. 3 beds 1 and 1\2 bath.. Out of state investor was referred to us. This investor was looking for cash flow. However, the property had to have a major rehab, $24000 to restore interior damage. Property is now producing $2000 per month with an additional bedroom added later also guaranteed through one of the non-profit organization Flowers and Associates partner with.

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

I knew I had the Non-Profit Organization waiting for the property to be completed. And it was a good deal for a buy and hold investor

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

I was referred to the seller by a client. He wanted to sale the property because he wasn't able to keep up the taxes and lawn cuts that was enforced by the City code enforcement..

How did you finance this deal?

All Cash from investor I sold it to..

How did you add value to the deal?

The Flowers and Associates team got the property up and running and producing $2000 per month in rent. All veterans whom in which keep the property immaculate.

What was the outcome?

Investor was incredibly happy and went on to purchase 2 more properties, utilizing the same strategy...

Lessons learned? Challenges?

It is always Code enforcement and a electrician that was trying to gouge me... (I guess he couldn't see the vision ahead)

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

None