Updated over 3 years ago on . Most recent reply
[Calc Review] Help me analyze this deal
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I have this property under contract in Memphis TN. The average 1 bed 1 ba rent in that area is $500.
Tenants are currently at $400 on no leases. We will need them to sign a month to month lease before close with the pre existing owner.
We have our inspections coming in this week. I think its a decent cashflow option. Will need to purchase cash and then refinance out into a long term loan.
What are your thoughts about this property and the numbers?