Memphis, TN Wholesale Deal
We just bought this property from the bank and would like to sell it to a local investor in the Memphis area. Built in 1957 this fixer upper needs some TLC to get rental ready. If you're a handyman, bring your tools and get it ready to go. Estimated rents are $550 a month. Could make a solid section 8 rental as well once repaired.
Visit our website for more photos and to make an offer. We will consider short-term owner financing. www.OdellBarnesREO.com
Here is the breakdown:
Purchase Price: 9,999
Repairs / Closing Costs: $7,500
Total Investment: 17,500
Annual Rent: 6600
- 30% Mgmnt / Vacancy / CapEx / maintenance
- 500 insurance
- 200 taxes
NOI: 3,920
Cash on Cash ROI: 22.40% year 1
Offering