Hi everyone. I am doing some research on turnkey providers and had a question or two in Memphis Invest. For those that have purchased single family homes from them how much do the houses typically cost all in? What are the property taxes? What is the monthly rent? I am basically trying to determine what my net return will be, how much cash will be left over at the end of each month, etc. I have not really heard any bad stories about, in fact it has been the opposite, apparently their property management company is great and their customer service is really good. Just wondering about the net ROI. Also, if this info is readily available somewhere and I missed please point me to it. Thanks for any help!
Rental Property Investor · Los Angeles, CA · Member since 2015 · 155 posts · 81 votes
8y
MI is in many markets now so that questions is gonna be a big depends. I bought a SFH in Memphis from them. My taxes are a little high cause there is also county taxes on top. My return is 7% when you run numbers the right with vacancy and repairs. My actually return the last 3 year has been 16% plus some appreciation. That because there has been no vacancy and repairs. Of course this won't continue and once I have repairs and vacancy that average yearly return will average down. PM me if you have any specific questions I'd be glad to share my experience.