Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 5 years ago on . Most recent reply

User Stats

19
Posts
13
Votes
Ryan Ridgley
  • Rental Property Investor
  • Exeter, NH
13
Votes |
19
Posts

First Remote Rehab Complete!!!

Ryan Ridgley
  • Rental Property Investor
  • Exeter, NH
Posted

Investment Info:

Single-family residence buy & hold investment in Memphis.

Purchase price: $42,000
Cash invested: $11,500

Rehab is complete on this single family rental! It will occupied until the 6th month point when we can do a cash out refinance! Ready for the next property!

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

We decided on Memphis based on the lower barrier of entry than our local market. Memphis is a great area with great people and we wanted to create a nice home for someone one to call home.

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

We found this deal with the help of CrestCore Property Managment. Brooke has helped us along the way make offers and negotiate this deal all while we were out of state.

How did you finance this deal?

Hard Money.

How did you add value to the deal?

We just did a conventional class C rehab and during the process found wood floors under carpets so we refinished them.

Lessons learned? Challenges?

It is easier than you think. Anyone can do it. People say this a lot, and honestly I thought it was smart people just saying that. If you can use excel and are a good communicator then you can do this!

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

CrestCore Property Management. CrestCore Financial.

Most Popular Reply

User Stats

19
Posts
13
Votes
Ryan Ridgley
  • Rental Property Investor
  • Exeter, NH
13
Votes |
19
Posts
Ryan Ridgley
  • Rental Property Investor
  • Exeter, NH
Replied

@Gabe Viteri I used their rehab team as well and the PM. 

@Gurshan Bansal - I have been targeting the 38128, 38116, 38118 and 38122. This property is actually in 38127. From what I have seen it is a good area, but the further away you get from the city and the more northwest you get the worst it gets. It can still be street by street so you always have to do your research. 51 splits it, the northwest corner is a challenge. There isn’t much going on in the northwest corner. 74% investor area is what I think I saw.

Loading replies...