213 SFR's Memphis

Investor · Collierville, TN 38017 · Member since 2017 · 593 posts · 445 votes

Investment Info:

Large multi-family (5+ units) buy & hold investment.

Purchase price: $31,950,000
Cash invested: $6,900,000

Memphis Passive currently owns and manages a portfolio of 213 rental units throughout the Memphis market. The entire portfolio is occupied by tenants participating in Memphis Housing Authority programs and collectively generates approximately $120,000 per month in net cash flow.

What made you interested in investing in this type of deal?

Security back by the US government.

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

BRRRR Method just recycling money over and over again.

How did you finance this deal?

Dscr Loan

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Jay HinrichsBusiness Member
Real Estate Consultant · Summerlin, NV · Member since 2014 · 45k+ posts · 66k+ votes
1mo
nicely done 150k a door average that puts you in better areas of memphis..
did you pull all your cash out or you say you have 7 mil invested in the porfolio which is basically 20% into each one in cash.. is that what you mean there. ???
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James JonesPro Member
OP
Investor · Collierville, TN 38017 · Member since 2017 · 593 posts · 445 votes
13h
Everything I do is a cash-out refi. Typically, I get them with cash for the hard money down payments and holding costs. Typically, it runs about 20%, and then I refi and get all my cash back out. Rinse and repeat method.
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