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Tal C.
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Memphis Tennessee Property On Roofstock

Tal C.
Posted Feb 27 2020, 12:02

Hi everyone. I have never purchased any real estate, so forgive my noobiness. But I recently came across a rental property on Roofstock in Memphis, Tennessee (I linked to it here so you can click to see). They make the numbers seem like I'd be making a nice amount of money if all goes well. However, a few things jump out at me. 

1) From my research this seems like Memphis is a really dangerous city. Does it make sense to invest in a city such as this for a first time owner (I will be taking care of everything remotely through property management companies)? Anything I should look out for?

2) Zillow says it was sold for $19,500 in 2019, and gives it a Zestimate of $48,119. It is being listed on Roofstock for $58,000. Seems quite a bit overpriced. I am wondering what its actual value should be and what I should pay for it if I go for it.


3)When I move the slider for the purchase price to negotiate to pay less, it makes my total return be less as well. Is there any world where this would happen? Pretty sure this is a bug on their website.

4) Any tips for a new investor? 

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