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All Forum Posts by: Derrick Craig

Derrick Craig has started 116 posts and replied 927 times.

Post: 3 Duplex Package! Rented Average Rent $300 a unit! $90K ONLY!!

Derrick Craig
Pro Member
Posted
  • Memphis, TN
  • Posts 969
  • Votes 524

Hey BP,

I own 3 duplexes I would like sale or keep for $90k bringing in gross $1,800.00 a month located at 1610 S. Orleans, 1614 S. Orleans, and 1620 S. Orleans, each unit has brand new roofs, new drive ways and new sidings all around the outside of it. I own and manage the duplexes with several long term tenants in them. 

$300 Rent times 6 = $1,800.00

$902.00 Taxes times 3 = $2,706.00 a year

$375.00 Insurance times 3 = $1125.00 a year

8% Property Manage fee= $144.00 a month

Tenants pay all utilities water, electric, and trash collection!!!

Stated gross returns and cash flow do not take into account vacancy and repairs that WILL happen over time. All investors should allocate a reserve for maintenance and vacancy for any investment property. Vacancy and repairs are variable cost factors that can increase or decrease from year-to-year that will impact yields over time.

Contact: Derrick Craig at 901-212-4476 or email [email protected] if you are interested in this property… We have not priced it as of yet but please keep looking at our available properties site and it will be updated on it very soon

Post: IMPROVING THE SOUTH MEMPHIS & SOULSVILLE COMMUNITY

Derrick Craig
Pro Member
Posted
  • Memphis, TN
  • Posts 969
  • Votes 524

@Douglas Skipworth @Stephen Akindona

Thank you guys!! You are the BEST I will keep you updated on the progress. 

Post: South Memphis Investing

Derrick Craig
Pro Member
Posted
  • Memphis, TN
  • Posts 969
  • Votes 524

@Issac Rosemond

I am purchasing in this area

Post: IMPROVING THE SOUTH MEMPHIS & SOULSVILLE COMMUNITY

Derrick Craig
Pro Member
Posted
  • Memphis, TN
  • Posts 969
  • Votes 524

DERRICK CRAIG AND MICKELL LOWERY SHARE THEIR VISION!

by Dianne Withers


Two graduates of Lemoyne-Owen College, Derrick Craig and Mickell Lowery are sharing their vision for a development designed to uplift the South Memphis and the Soulsville area.

“The building has a history of having a impact on the community as it once included the neighborhood laundry mat and a convenient store. However the structure along with the lot next to it has been vacant for many years. Both Craig and Lowery see an opportunity for this building to have an impact on the area and to once again become a place where the community meets.”

Craig, whose mother recently passed away and Lowery are planning to open a Soul Food restaurant at 969 E McLemore across the street from the Soulsville Stax Museum. They are asking community residents for ideas for other uses for the facility. The building has three areas and while the restaurant will fill part of the structure, there will be room for two additional businesses.

Opening a restaurant will be in honor of Craig’s mother Johnnie Mae Craig who was a Marine veteran who had always wanted to serve great tasting food to her customers. She also worked at Buck Mail as the first African American woman tractor trailer driver, this is where she continued her love for food cooking for the postal employees during their banquets and retirement dinners.

Craig and Lowery would like to hear ideas from the public on how the remaining portion of the building should be used. Please share your ides with [email protected] or you can call him at 901 623-9022.

Mickell is also running for the Shelby County Commission, District 8. That’s the seat of County Commissioner Walter Bailey who is term-limited and cannot seek re-election. Working with his classmate, Lowery says this development is one of the many ways he is supporting community development in District 8, which includes North and South Memphis, Frayser, Downtown and parts of Central Gardens.

Post: NEW LOWER PRICE TURNKEY REI IN A++ Area of Memphis TN= 11% ROI

Derrick Craig
Pro Member
Posted
  • Memphis, TN
  • Posts 969
  • Votes 524

SUPER NICE A+++ LOCATION!!! Long Term Tenants

Status: Available
Purchase Price: $135,000
Beds/Baths: 4 beds, 2.5 baths
Square Feet: 2,000 sqft
Lot Size: .23 Acres
Year Built: 1993

PROPERTY DESCRIPTION

6677 Autumn Wood Cove Memphis TN 38141 – Passive Cash Flow

4 Bedrooms, 2 1/2 Bathrooms
List price: $135,000
Taxes $1,266 a year = $105.50 a month
Property Management Fees – 8% = $96.00 a month
Rented $1,200 a month- Same tenants since Jan 2013

Insurance-635 a year = $53.00 a month

Vacancy – $40 a month

Maintenance- $76 a month

Cap EX- $80 a month

Cash flow each month = $749.50 if purchased all CASH!! = 11% ROI

If you are interested in this property please contact: Derrick Craig – 901-212-4476 Text or Call or you can email [email protected]

Or View Memphis Buy and Hold Inventory for more deals Click- Memphis Buy and Hold
Stated gross returns and cash flow do not take into account vacancy and repairs that WILL happen over time. All investors should allocate a reserve for maintenance and vacancy for any investment property. Vacancy and repairs are variable cost factors that can increase or decrease from year-to-year that will impact yields over time.

  • Our sister company DCC RENTALS LLC can manage this property for you with ease 8% management fee which is negotiable if you allow us to manage more properties in your investment portfolio call 901-212-4476
  • Stated gross returns and cash flow do not take into account vacancy and repairs that WILL happen over time.
  • All investors should allocate a reserve for maintenance and vacancy for any investment property. Vacancy and repairs are variable cost factors that can increase or decrease from year-to-year that will impact yields over time.

Post: Appraisal came back $35,000 lower than sales price (Turnkey)

Derrick Craig
Pro Member
Posted
  • Memphis, TN
  • Posts 969
  • Votes 524

Sounds fishy to me!!!! Red flags all across the board, seems to me that a buyer should be able to use whomever they want to purchase a property IMO....

Post: Very Very Nice Spacious Home – Rented $941 Per Month!

Derrick Craig
Pro Member
Posted
  • Memphis, TN
  • Posts 969
  • Votes 524

Very Very Nice Spacious Home – Rented $941 Per Month!

Status: Available
Purchase Price: $75,000
Property Type: Single Family
Beds/Baths: 5 beds, 2 baths
Square Feet: 2,000 sqft
Lot Size: 1.255 Acres
Year built: 1941
Occupancy Status: Rented

Property Description

Very Very Nice Spacious Home, 5 large Bedrooms Hard wood Floors in Living room, Hall ways and Bedrooms. Hall Bathroom totally remodeled new Ceramic tile inside it absolutely stunning!!! HUGE DEN!! Large front and back yard for family gatherings..

Currently Rented $941.00 a Month
Taxes- $894 = $74.50 a month
Insurance- $600 = $50.00 a month
PM FEE- $75.28

Vacancy – $80 – (guesstimate)
Maintenance- $80 – (guesstimate)
Cash Purchase Passive Cash Flow = $581.22

2582 James Rd Memphis TN 38127

  • Our sister company DCC RENTALS LLC can manage this property for you with ease 8% management fee which is negotiable if you allow us to manage more properties in your investment portfolio call 901-212-4476
  • Stated gross returns and cash flow do not take into account vacancy and repairs that WILL happen over time.
  • All investors should allocate a reserve for maintenance and vacancy for any investment property. Vacancy and repairs are variable cost factors that can increase or decrease from year-to-year that will impact yields over time.

Post: Nice Wholesale Long Term Buy And Hold!! - 21.27% ROI!!!

Derrick Craig
Pro Member
Posted
  • Memphis, TN
  • Posts 969
  • Votes 524

Nice Wholesale Long Term Buy And Hold!!

Status: AVAILABLE
Purchase Price: $29,900.00
Property Type: Single Family
Beds/Baths: 3 Beds, 1 bath
Square Feet: 1,300 sqft
Lot Size: 0.26 acres
Year Built: 1945
Occupancy Status: Rented

PROPERTY DESCRIPTION

Large front yard nice size den…

Currently Rented for $530 a Month
Property Management Fee $42.40 a Month
Property Taxes- $47.25 a Month
Insurance Quote -$45 a Month
Vacancy- $45.00

Maintenance- $50.00
CAP EX- $50.00
If purchased all cash no Mortgage you would expect to CASH FLOW- $250.35

ROI = 21.27%

Stated gross returns and cash flow do not take into account vacancy and repairs that WILL happen over time. All investors should allocate a reserve for maintenance and vacancy for any investment property. Vacancy and repairs are variable cost factors that can increase or decrease from year-to-year that will impact yields over time.

  • Our sister company DCC RENTALS LLC can manage this property for you with ease 8% management fee which is negotiable if you allow us to manage more properties in your investment portfolio call 901-212-4476
  • Stated gross returns and cash flow do not take into account vacancy and repairs that WILL happen over time.
  • All investors should allocate a reserve for maintenance and vacancy for any investment property. Vacancy and repairs are variable cost factors that can increase or decrease from year-to-year that will impact yields over time.

Post: Nice Income Property- Rented $681

Derrick Craig
Pro Member
Posted
  • Memphis, TN
  • Posts 969
  • Votes 524

Nice Income Property- Rented $681

Status: AVAILABLE
Purchase Price: $44,500
Property Type:
Beds/Baths: 3 Beds, 2 Baths
Square Feet: 1,376 sqft
Lot Size:
Year Built: 1945
Occupancy Status: Rented

PROPERTY DESCRIPTION

Rented Sec 8 long term tenant- $681
Taxes- $393 a yr
Insurance- $375 a yr
PM FEE 8%- $54.48
ROI- 18.36%

1000 N Dunlap Memphis TN 38107

  • Our sister company DCC RENTALS LLC can manage this property for you with ease 8% management fee which is negotiable if you allow us to manage more properties in your investment portfolio call 901-212-4476
  • Stated gross returns and cash flow do not take into account vacancy and repairs that WILL happen over time.
  • All investors should allocate a reserve for maintenance and vacancy for any investment property. Vacancy and repairs are variable cost factors that can increase or decrease from year-to-year that will impact yields over time.

Post: Multi Family Located Near Downtown Memphis-$3,200 Gross Rent!!

Derrick Craig
Pro Member
Posted
  • Memphis, TN
  • Posts 969
  • Votes 524

Hi @Shai Halevy

Correct it is currently 7.7% CAP on proforma, and yes this is a C class neighborhood... But i am sure you have noticed being from Memphis TN in this area Henry Turley has new construction going on all around this property, a Brand New senior assisted living home 60 plus units recently built next door to this property, uptown/down town expansion is coming towards the complex and this will allow me to raise the rents from $400 to $450 or higher.

RFP for Consulting Services for the Uptown Community Plan12/18/2017: Click here to view the request for proposals for consulting services for the updated Uptown Community Redevelopment Plan.
1/8/2018: Click here for an addendum to the RFP.

http://www.uptownmemphis.org/about_us.htm