Investor · Brooklyn, NY · Member since 2016 · 7 posts · 5 votes
Hi Guys,
I am a cash investor looking for rental properties in Chicago, Indianapolis, Detroit, Memphis and FL. I can look at pretty much anything as long as the yield is good. looking to buy 15 properties over the next 18 months or so. Ideally properties which are already rent and managed. Wholesalers / turn key companies please send me your listings! Many thanks,
Offer 254LL:33 Single Family Rental Homes in Memphis, TN.Very nice Class B and C properties throughout the Memphis area.80% Occupancy with Professional management in place.Price range is $28,000 to $72,000 per property.Can be sold in increments of 5.Asking Price - $1,500,000 with a 13.9%Cap Rate. A conference call with the seller rep will be required in order to get additional information on these closely held properties.
Offer #205LL: - Memphis, TN 100 Single Family Rental Homes in Memphis, TN. Very nice Class B and C properties in Raleigh and Frayser. 91% Occupancy with Professional Management currently in place. Price Range is $48,000 to $82,000 per property. Will consider selling in smaller increments. Asking Price - $6,218,000 with an 11.0% Cap Rate. 3% referral fee.
Offer #206LL:- Memphis, TN 42 Single Family Rental Homes. Very nice Class B and C properties throughout the Memphis area. 90% Occupancy with Professional Management currently in place. Price Range is $52,000 to $85,000 per property. Will consider selling in smaller increments. Asking Price - $2,900,000 with an 11.7% Cap Rate. 3% referral fee.
Please let us know if you are interested in any of these properties. We get new listings in every day too!
Just a quick observation of your numbers. Your AVR is less then your total cost of the property - Purchase price, Rehab, etc. You would be starting out in the negative. I am not sure where you got your AVR from, tax assessment or comps, if it's from comps I would pass on this deal. If it is form tax assessment then I would get an agent to do some comps for you to see what the area is selling for. This of course is just my opinion.
Always go in making money and exiting making money. Never go in on the negative side. You don't want to start out by playing catch up.
Offer 254LL:33 Single Family Rental Homes in Memphis, TN.Very nice Class B and C properties throughout the Memphis area.80% Occupancy with Professional management in place.Price range is $28,000 to $72,000 per property.Can be sold in increments of 5.Asking Price - $1,500,000 with a 13.9%Cap Rate. A conference call with the seller rep will be required in order to get additional information on these closely held properties.
Offer #205LL: - Memphis, TN 100 Single Family Rental Homes in Memphis, TN. Very nice Class B and C properties in Raleigh and Frayser. 91% Occupancy with Professional Management currently in place. Price Range is $48,000 to $82,000 per property. Will consider selling in smaller increments. Asking Price - $6,218,000 with an 11.0% Cap Rate. 3% referral fee.
Offer #206LL:- Memphis, TN 42 Single Family Rental Homes. Very nice Class B and C properties throughout the Memphis area. 90% Occupancy with Professional Management currently in place. Price Range is $52,000 to $85,000 per property. Will consider selling in smaller increments. Asking Price - $2,900,000 with an 11.7% Cap Rate. 3% referral fee.
Please let us know if you are interested in any of these properties. We get new listings in every day too!
2 flat with great potential. Each unit has 2BR+1 bath. Some work was done on the property (windows, plumbing, electrical, walls, floors) Still needs some cosmetic work in order to make it your new money machine. (Rents in the area are $800-$950 for 2 BR units). This makes a great investment. All windows are in place (some are boarded up for security) it needs about $25,000 worth of work but its will be well worth it