All Forum Posts by: Haim Mamane Palman

Built in 1920, this charming 3/2 1692 sqft Single Family Home located in highly desirable Cooper Young neighborhood.

House located on a corner lot and has good size fenced back yard with two-car carport. This house has a lot of character and will be a great Fix and Flip project with huge upside as a 4th bedrooms can be easily added and the house is in fairly good shape.

Check out the pictures and video and see for yourself.

Pictures Link (59)

Video Link

Comparable Sales:

- 940 S Cox St, Memphis, TN 38104 3 beds 2 baths 1,600 sqft $207,500 Sold on 12/31/15

- 2037 Nelson Ave, Memphis, TN 38104 3 beds 2 baths 1,523 sqft $201,500 Sold on 12/15/15

- 1994 Walker Ave, Memphis, TN 38104 3 beds 2 baths 1,550 sqft $185,000 Sold on 10/14/15

- 2075 Nelson Ave, Memphis, TN 38104 3 beds 2 baths 1,904 sqft $209,900 Sold on 09/18/15

- 2011 Evelyn Ave, Memphis, TN 38104 2 beds 2 baths 1,470 sqft $190,000 Sold on 03/26/15

- 972 Evelyn Ave, Memphis, TN 38104 2 beds 2 baths 1,800 sqft $217,000 Sold on 04/24/15

Note: It shows pending on the MLS because we are the winning bidders. You can close on this ASAP.

wish I could be there....maybe one day you will stream it...

if I'm not mistaken there are Rental/turnkey markets closer to you such as Albany, NY. I would start closer to home before going to the other markets you mentioned. 

Good luck

welcome to BP. I'm also from CA and invest out of state primarily in Memphis and Indianapolis. There are great turnkey companies in both places (I purchased turnkey properties in Memphis myself) and I know there great companies in the other markets you mentioned. Obviously there pros and cons to buying from turnkey companies. If you want to get your hands dirty the "Turnkey Alternative" may be a good option for you where you buy discounted properties with equity at wholesale price and to work with reputable property management company to do the rehab and manage the property for you. 

Good luck!

Mid South Home Buyers is a great company. I had a chance to meet with the owner Terry Kerr and the Aquisotion Manager Chris Ulander three weeks ago when I was in Memphis. They are both true professionals and cool people and they have an impressive operations. Definitely recommend their services. 

Hi,

Jason Lovalec with Precision Home Inspections is also a good one.

Good Luck,

stay local if the numbers make sense in your own market. You can drive by the property whenever you feel like, verify all expenses reported by your property manager and a triplex in my opinion is a better investment than 3 SFH unless you are in a market which has a huge appreciation upside (which is not the case with Memphis). It also sounds that you will need to make repairs on the triplex so I would assume that you have some equity in the deal as well. You will buy at or above retail price with most turnkey companies in Memphis or elsewhere so if you need to liquidate the assets quickly it may be a challenge.

Just for the record, I don't have anything against turnkey companies or Memphis I personally purchased from turnkey companies in Memphis because the numbers don't make sense in the SF Bay Area to buy and hold.

Good luck.

@Amir Kabiri

Welcome to BP.

I wholesale and invest in Memphis and purchased and worked with several turnkey operators as out-of-state buyer and as a wholesaler. Please feel free to reach out and I will be happy to share with you my experiences and mistakes I made as a buyer. I'm not local but I have pretty good understanding of the Memphis market. You should definitely reach out to the local investors/turnkey operators/property managers  that posted above, they are all professionals and experts of the Memphis market. Good luck.