All Forum Posts by: Jason Hopkins

Hello,

Please let me know if you are interested in this deal, details are below.

4250 Westmont Rd. Memphis, TN. 38109

Property has clean title but was sold in the past via the Memphis land bank.

3 bedrooms 1 bath

854 sq ft

Built in 1962

Yearly taxes $767.29

220 wiring is less than two years old

Roof is less than two years old.

Estimated repairs $10,000. Some rehab has been completed but more is needed to get property rent ready. (power wash outside of property, repair wood trim on outside of property, finish siding, paint interior and exterior trim, clean yard, HVAC, hot water tank, flooring, final clean,install kitchen cabinets, change locks, hardware, inspect plumbing, blinds, new sink and toilet in bathroom, security door for back door)

ARV $45,000
Cash asking price $10,000
Zillow Rent Rate $650
Rentometer Rent Rate $673

Click link to see detailed pictures

https://www.youtube.com/watch?v=ZB3EPSKDgK0

*Disclaimer and Terms*

This property is a off market wholesale deal that can be bought with cash only. I have the property under contract to purchase for cash and selling my position as the current buyer via a assignment agreement.

@Dean Harris  I will email two deals that I currently have.

@Dean Harris  would you have interest in a Condo (3/2.5) in 38116?

@Douglas Skipworth  thanks for sharing.  I had to evict a tenant of 3 years from my rental property in Cordova last week.  Yesterday I signed a new lease for the property, the new tenant just moved here for his new job.  Thanks Memphis!!!

@Jose Castillo  Absentee owners via listsourse and mailing postcards via click to mail.

@austin metzger

 Absentee owners.

Last month I decided to invest more into my advertising to the tune of $700.  I started to see the benefits within days.  The heart of wholesaling real estate is lead generation.  From these leads I was able to close 4 deals this month, including 3 in one day.  Each deal was priced correctly and sold quickly. 

Thanks @Douglas Skipworth

@Stephen Sokolow  Wise decision to invest in Memphis.  I work with investors from California, Texas, Brazil, Nevada, and most recently the Middle East.  The best thing that you can do is to find a team here that can do it all (rehab, property management, etc.) for you while having your best interest at heart.

@Douglas Skipworth thanks so much for the positive shout out.  @Matt Rosenbohm  everyone on this post has it right.  The best thing that you can do is to find a team that can do it all for you and has your best interest at heart.  If your looking for appreciation gains then Memphis is not for you. However, if you are looking for solid monthly cash flow then Memphis is your town.

@Douglas Skipworth  Good point.  I have yet to see a title company insure a tax sale property.