All Forum Posts by: Derrick Craig

650 Vance Ave Memphis TN 38126

Status: Available

Purchase Price: $70,000
Property Type: Single Family
Beds/Baths: 3 beds, 1 baths
Square Feet: 1,102 sqft
Lot Size: ,300 Acres
Year Built: 1945
Occupancy Status: Rented

PROPERTY DESCRIPTION

TOTALLY BRAND NEW TURNKEY RENTAL PROPERTY!!!

This is a 3 Bedroom 1 bath home located Downtown area of Memphis TN, Recently remodeled inside and outside includes paint,New Roof, New windows, tub, toilet, hot water tank, ceramic tile in kitchen and bathrooms, hard wood floors sand and stained refurbished to new condition, wrought iron outside doors, new wood privacy fence, new garage door, new light fixtures, and many many more.

List Price – $70,000.00
Built- 1945
Currently Rented for $850 a Month
Property Management Fee $68.00 a Month
CITY and COUNTY TAXES ONLY - $38.58 a Month- You can't beat that!!
Insurance Quote -$31.25 a Month
Vacancy- $85.00 Maintenance- $85.00
CAP EX- $85.00

ROI- 14.57%
If purchased all cash no Mortgage you would expect to CASH FLOW- $457.17

Check out video- 650 Vance Video!!

If you are interested or have any questions about this property please contact me:

Derrick Craig -[email protected] 901-212-4476 text or call!!!

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.

412 Dreger Memphis TN 38109 - Video!!

1446 Wabash Memphis TN 38106

Built in 1987

3 Bedroom 2 Bathroom 

List Price- $47,000.00

Taxes- $942 a year

Insurance- $475 a year

Property Management Fees- 8% of rent collected a month

Rent- $700

Updates include

New siding, New Wood Privacy Fence, New Wrought iron Doors, New Metal Security Doors, New Paint inside and Out Side, New Electrical Service, New Light Fixtures Ceiling Fans sockets etc, New Windows, New Plumbing, New Laminite Hardwood Flooring, New Carpet, New Ceramic Tile, just recently cut HUGE tree down that was in back yard!!... and the list goes on and on and on!!

If you are interested or have any questions about this property please contact me:

Derrick Craig - [email protected] 901-212-4476 text or call!!!

Memphis Buy and Hold - www.memphisbuyandhold.com

UNDER CONTRACT!!

We offer PM services to outside investors as well as our turnkey investors as well.. Good Luck on your investment

@Austin Good

The Woodlawn Terrace area is not as  bad if you are looking to purchase a 3 Bed 2 bath in that area due to they are easier to rent out and less time for vacancy which curves the attempt of vandalism.. Also you MUST have a strong property management team for this area and any property in the 38127 zip code.. A lot of property managers don't want the problems/hard work in these type of lower income areas, this property will only perform as good as the property manager you hire.. but DO NOT purchase anything under 3 bedroom and 2 bath in this area. hope this helps..

@Austin Good

Don't waste your money... The HOA is in really BAD shape due to the fact only 13 homeowners are paying the $64.00 HOA fee each month!! Which is insane out of 80 plus condo's over there? The city is suing the home owners and HOA for not keeping the property in good condition. I have one unit over there on Chesterwood Ct I lowered the rent down to $450 a month because I don't know how long it will be before the city comes in and shuts down the entire complex. Only 1 person who lives over there is actually a home owner and she states the tenants that are living there are part of the reason of all the furniture dumping and trash dumping over there. I hope this helps.

714 Parkdale Dr Memphis TN 38116

Very Very Nice Spacious Home, 3 large Bedrooms Hard wood Floors in Living room, Hall ways and Bedrooms. Master Bathroom and Hall Bathroom totally remodeled new everything inside it absolutely stunning!!! Brand New Kitchen Cabinets, Sinks, Lights, Fixtures Electrical, Plumbing, Ceramic Tile in Bathrooms and Kitchen and NEW built in Fire Place, New Flat Roof so many amenities can't name all of them.. 

Currently Rented $1000 a Month 

Taxes- $1341 = $111.75 a month 

Insurance- $650 = $54.17 a month 

PM FEE- $80 Vacancy - $80 - This is a guesstimate 

Maintenance- $80 - This is a guesstimate 

Passive Cash Flow = $595.08 

Please take a look at the video below:

If you are interested or have any questions about this property please contact me: 

Derrick Craig - [email protected] 901-212-4476 text or call!!!

Coming SOON!!

4512 Neely Rd Memphis TN 38109- Passive Cash Flow Machine!!

4 Bedroom 1 1/2 Bathrooms 

List Price- $90,000

Taxes- $1164 a year

Insurance- $625 a year

Property Management Fees- 8% of rent collected a month

Potential Rent- $900- $950 a month

Updates include

New Roof, New siding, New Wrought iron Doors, New Metal Security Doors, New Paint inside , New Electrical Service, New Light Fixtures Ceiling Fans sockets etc, New Plumbing, New Laminate Hardwood Flooring, New Carpet, New Ceramic Tile... and the list goes on and on and on!!

If you are interested or have any questions about this property please contact me:

Derrick Craig - [email protected] 901-212-4476 text or call!!!

See both Video's below!!

4512 Neely Rd Memphis TN 38109-Video

412 Dreger Memphis TN 38109

3 Bedroom 1 1/2 Bathrooms 1 Car Garage

List Price- $90,000

Taxes- $1,592 a year

Insurance- $600 a year

Rent- $906

Property Management Fees- 8% of rent collected a month- $73

Please View Video below-

Updates include

New Roof, New siding, New Wrought iron Doors, New Metal Security Doors, New Paint inside and Out Side, New Electrical Service, New Light Fixtures Ceiling Fans sockets, New Plumbing, New Laminate Hardwood Flooring, New Ceramic Tile in kitchen, den, bathroom,... and the list goes on and on and on!!

If you are interested or have any questions about this property please contact me:

Derrick Craig - [email protected] 901-212-4476 text or call!!!

Memphis Buy and Hold - www.memphisbuyandhold.com