Midtown Memphis BRRRR/Short-Term Rental

[Rachel Hughes]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Memphis.

Purchase price: $135,100
Cash invested: $56,000

Our second short-term rental investment property was also our first rehab project. We purchased with a private money loan and will do a cash out refi Fall/2020 and pull out some equity.

The property has a main house (3 bed/1 bath) and a detached guest house (studio/1 bath). Cash flow machine.

We spent ~$18k on the rehab and ~$15k furnishing for Airbnb. Target ARV is ~$180k.