Help me out to evaluate memphis townhouse

[Orhi Tahi]

Hi Memphis Investor,

What are some pros and cons you see for this investment:

https://www.zillow.com/homedetails/2297-Belin-Dr-Memphis-TN-...

Thanks 

Orhi

[Tony Pellettieri]

Quote from @Orhi Tahi:

Hi Memphis Investor,

What are some pros and cons you see for this investment:

https://www.zillow.com/homedetails/2297-Belin-Dr-Memphis-TN-...

Thanks 

Orhi

Hey Orhi, 

Looks like it's priced at/above retail. It's been on the market 1 day which tells me the seller likely isn't motivated yet to give you a great price or terms. What is your overall goal/plan for this property? What are you looking to accomplish?

[Jordan Ray]

Quote from @Tony Pellettieri:

Quote from @Orhi Tahi:

Hi Memphis Investor,

What are some pros and cons you see for this investment:

https://www.zillow.com/homedetails/2297-Belin-Dr-Memphis-TN-...

Thanks 

Orhi

Hey Orhi, 

Looks like it's priced at/above retail. It's been on the market 1 day which tells me the seller likely isn't motivated yet to give you a great price or terms. What is your overall goal/plan for this property? What are you looking to accomplish?

I agree with Tony... btw don't look at every property. You need to find things that will help you decide if its a deal or not so you don't waste your time on properties that are not deals. Like Tony did, he said.. "This is probably at/above retail... I am moving on" Welcome to investing and let me know if I can help in any way.

[Orhi Tahi]

Quote from @Tony Pellettieri:

Quote from @Orhi Tahi:

Hi Memphis Investor,

What are some pros and cons you see for this investment:

https://www.zillow.com/homedetails/2297-Belin-Dr-Memphis-TN-...

Thanks 

Orhi

Hey Orhi, 

Looks like it's priced at/above retail. It's been on the market 1 day which tells me the seller likely isn't motivated yet to give you a great price or terms. What is your overall goal/plan for this property? What are you looking to accomplish?

Hey Tony, you are saying above retail because of zillow estimate value ? 

my goal is to have the 1% rule and seems like i am getting it here

[Jordan Ray]

Quote from @Orhi Tahi:

Quote from @Tony Pellettieri:

Quote from @Orhi Tahi:

Hi Memphis Investor,

What are some pros and cons you see for this investment:

https://www.zillow.com/homedetails/2297-Belin-Dr-Memphis-TN-...

Thanks 

Orhi

Hey Orhi, 

Looks like it's priced at/above retail. It's been on the market 1 day which tells me the seller likely isn't motivated yet to give you a great price or terms. What is your overall goal/plan for this property? What are you looking to accomplish?

Hey Tony, you are saying above retail because of zillow estimate value ? 

my goal is to have the 1% rule and seems like i am getting it here

Are you planning to buy turnkey?

[Stephen Akindona]

@Orhi Tahi I actually have to disagree with the others, I think this is priced at market value and maybe some slight potential to appraise a little higher than 125k. The property looks to be in a good remodeled condition and the area is great for investment. If you are okay with your return numbers then there is no issue with this property profile and location. Of course, you need to do your own due diligence to ensure that there are no surprises with the actual condition of the property but otherwise looks good. If you want I can send you my analysis of this property. Shoot me a DM and I'll send it over. 

[Walter Jones]

I was going to look at this one for an out of state client but it went under contract. We were going to make an offer on it. I think it's priced well also. Under contract in 3 days. Smart pool of buyers in the Memphis area.

Nothing wrong with paying asking price on something that fits my criteria and goals. I'd rather get a property that I like in my balance sheet now, rather than looking 6 months for the perfect "deal."    

Don't wait to buy real estate, buy real estate, then wait.
 

[Alex Evans]

I think its a good property in a great area of Memphis. I wish it was a tad more East in Bartlett because then the better schools would kick in. I think the price is good, but rental comps seem a bit tight. 

I think it is a great deal for any investor even if you get a little below the 1% rule.