BRRR strategy at work in Memphis, TN

[James Wachob]

I'm buying properties in Memphis and renovating them with the ability to sell or refinance and hold long-term. The entry point is extremely affordable and the rents vs. all in cost are dynamic!

Recently I found a 3 bedroom 2 full bath home in a suburb of Memphis. Since the taxes are lower, compared to Memphis, and the neighborhood is well maintained, this offered another option = selling to a home owner.

I purchased the home for $68,000 and fully renovated it for $23,250

After a total investment of $93,575 the home appraised for $135,000 and the home will rent for $1200 per month. Not a home run by any means but these numbers are definitely attainable. 

I love having multiple options when I buy any home. 

1. keep as a rental, after a cash-out financing 

2. sell for profit to another investor

3. sell to a homeowner or owner financing in some cases

4. keep as a rental for a period of time and then sell for a profit 

[Robin Boyer]

I suppose anything is possible. I am doing a 1031 exchange and will be looking to do rentals as well! Buy rehab rent refinance repeat!