All Forum Posts by: Paul Myers

Numbers on this property are as follows. Monthly rent is $1,050 and my PITI is $707. There is a 10% management fee, so $105 a month off the top. I am cash flowing around $230 a month.

Investment Info:

Single-family residence buy & hold investment in Memphis.

Purchase price: $125,000
Cash invested: $30,000

First investment property. Done through a turn-key company.

How did you find this deal and how did you negotiate it?

Contacted a turn-key company that has been mentioned on Biggerpockets. Contacted them and then closed on a deal about 3 months later.

How did you finance this deal?

Conventional bank loan.