All Forum Posts by: Haim Mamane Palman

@Account Closed I'm not local but from all the local investors I talked to and from what I have seen you can have great streets and terrible streets in the same neighborhood let alone in the same zip code. 38128 is a huge zipcode and you can find good properties there in your price range. As long as you have the right team....I actually own a property in that zipcode and it's been great. 38141 is also not a bad zipcode and most of the turnkey providers offer properties in that zipcode. Again, it's street by street and your boots on the ground can give you better feedback. 

@Account Closed welcome to BP! I'm from San Francisco (originally from Israel) but invest and wholesale primarily in Memphis and other cash flow markets. A lot of out of state and international investors got burned and as the others stated your team on the ground will make or break your investment. The property management company is probably the most important component as well as buying at the right price and in the right neighborhood - I know that from experience....I purchased from different turn-key companies, I purchased directly from banks at a discount and tried to manage a rehab remotely (not recommended) and I partnered with local investors as well.  I've made mistakes and I have had successes. Turnkey is definitely a good option for international investors and Most of the reputable turnkey providers are very active on BP. Make sure you do your due diligence before making a decision. Feel free to reach out. Good luck 

4300 Winterpark Drive Memphis, TN 38141

Asking Price 52.9k

3 bedrooms 3 baths

1691 Sqft

Built 1979

This is a nice Single Family House in high demand rental area of Hickory Ridge. Property needs 15-20k in repairs and will rent for 900-$925 once fully renovated. Comparable Sales in the neighborhood are in the 90-95k range. 

This will be a great property to flip for a potential 20-25k profit or to keep in a rental portfolio for cash flow (11% plus in Cap Rate)

Additional Pictures (66)

Video

Pro-forma for Flip and Buy and Hold exit strategies

Rent Range: $900-925

After Repair Value: 95k

Comparable Sale:

– 6569 Beaverlodge Dr, Memphis, TN 38141 3 beds 2 baths 1,443 sqft Sold on 10/09/15 for $96,000

– 6747 Castlegate Ln, Memphis, TN 38141 3 beds 2 baths 1,595 sqft Sold on 09/29/15 for $98,500

– 4384 Winterpark Dr, Memphis, TN 38141 3 beds 2 baths 1,505 sqft Sold on 01/21/15 for $94,900

Access: Please call (901) 602-7874 or email to [email protected]

Note: This is an Auction home we won the bid on and we're flipping. You can close on this ASAP. It shows pending on the MLS because we are the winning bidders

Sincerely, Haim Mamane Palman901-602-7874 [email protected]

*All properties Subject to errors, omissions, deletions, additions, cancellation. All properties sold as is, where is with absolutely no representations written or oral. Buyer is to do their own independent due diligence. Property will not be considered under contract until signed contract and deposit received with all contingencies removed. Sales price is net to seller.

5818 Port Haven Dr, Millington, TN 38053

Purchase Price: 48.5k.

3 bedrooms 2 baths

1266 Sqft

Built 1980

Nice property in good neighborhood to flip or keep as a rental

Property needs cosmetic repair/updates. Roughly 15-20k (I'm not a contractor)

See property condition in the links below:

Photos 56

Video Link

Asking Price 48.9k

Rent Range: 895-$950

After Repair Value: 88,000-$94,000

Comparable Sales:

- 5836 Lake Port Dr, Millington, TN 38053 3 beds 2 baths 1,247 sqft $88,900 Sold on 01/14/15 (Memphis Invest)

- 5832 Garden Ridge Dr, Millington, TN 38053 3 beds 2 baths 1,266 sqft $88,000 Sold on 02/18/15

- 4433 Willow Springs Cv, Millington, TN 38053 3 beds 2 baths 1,416 sqft $95,500 Sold on 06/01/15

- 5890 Brushy Mill Cv, Millington, TN 38053 3 beds 2 baths 1,154 sqft $94,900 Sold on 05/29/15 (Memphis Invest)

Access: Please call (901) 602-7874 or email to [email protected]

Note: This is an Auction home we won the bid on and we're flipping. You can close on this ASAP. It shows pending on the MLS because we are the winning.

Nice property in good neighborhood to flip or keep as a rental

Property needs cosmetic repair/updates. Roughly 15-20k (I'm not a contractor)

Additional Pictures

Rent Range: $895-950

After Repair Value: 88-94k

Comparable Sale:

- 5836 Lake Port Dr, Millington, TN 38053 3 beds 2 baths 1,247 sqft $88,900 Sold on 01/14/15 (Memphis Invest)

- 5832 Garden Ridge Dr, Millington, TN 38053 3 beds 2 baths 1,266 sqft $88,000 Sold on 02/18/15

- 4433 Willow Springs Cv, Millington, TN 38053 3 beds 2 baths 1,416 sqft $95,500 Sold on 06/01/15

- 5890 Brushy Mill Cv, Millington, TN 38053 3 beds 2 baths 1,154 sqft $94,900 Sold on 05/29/15 (Memphis Invest)

Access: Please call (901) 602-7874 or email to [email protected]

Hi Mike,

I'm also from San Francisco and invest in Memphis. I also wholesale and lend to Memphis Investors.

Sounds like you are on the right track, you are focused and motivated and you have clear goals.

 Let's try to connect and learn from each other experiences.

Contract for Sale for 1376 Tutwiler Ave, Memphis, TN 38107

Property within walking distance to Crosstown Concourse (also known as Sears Crosstown Building), 600,000 square feet redevelopment project with a plan to have a mixed-use vertical urban village. This can significantly increase property value in the next 2-3 years. And if not, it's still a great buy to flip or keep as a rental for cash flow.

Purchase Price: 39.9k

3 bedrooms 1 baths

1688 Sqft

Built 1922

Property currently occupied but will be delivered vacant at closing. Property needs updates but nothing major. Rough repairs estimate - rental grade 10-15k, retail grade - 25-30k. (I'm not a contractor)

Additional Pictures (56)

Video Link

Rent Range: $755-$850. Potentially higher with high grade rehab.

After Repair Value: 75-80k. Potentially significantly higher with retail grade rehab.

This is a tricky area with great spots - comps as high as 140-150k within few blocks from the subject property and with not so great spots with significantly lower values. The subject property is somewhere in between.

Comparable Sales: - 1492 Tutwiler Ave, Memphis, TN 38107 3 beds 1 bath 1,500 sqft $129,000 Sold on 08/25/15. This is a retail grade rehab a block away from subject property. Property located East of N. Watkins St. - 1773 Faxon Ave, Memphis, TN 38112 2 beds 1 bath 1,642 sqft $153,000 Sold on 05/15/15. Property located East of N. Watkins St. - 644 N Willett St, Memphis, TN 38107 3 beds 1 bath 1,200 sqft $113,000 Sold on 08/25/15. Property located East of N. Watkins St. -627 N Willett St, Memphis, TN 38107 2 beds 1 bath 1,261 sqft $112,500 Sold on 06/10/15. Property located East of N. Watkins St. Access: Please call (901) 602-7874 or email to [email protected]

Property Address: 916 Shelby Drive Memphis, TN 38116.

Asking Price: 29.9k

This is a 3/1.5 1592 sqft property in high demand rental area. Property needs repairs. Rough estimate 15-20k (I'm not a contractor). See condition of the property in the links below:

Pictures Link (50)

Video Link 

Rent Range: 800-$850

After Repair Value: 67-70k

Comparable Sales: 

- 980 Blanchard Rd, Memphis, TN 38116 3/2 1898 sqft sold on 3/3/2015 for 78.7k

- 881 Mcclure Rd, Memphis, TN 38116 3/2 1417 sqft. Sold on 5/28,2015 for 76.8k

- 1055 E Shelby Dr, Memphis, TN 38116 3/1 1235 sqft. Sold on 7/8/2015 for 72.5k

Keep this property in your portfolio for cash flow (10%+ Cap Rate) or flip it for profit. 

Access: Please email to [email protected]

Contract for sale for: 

4849 Blanding Ave. Memphis, TN 38118

Purchase Price: 46.9k. 

4 Bedrooms

2 bathroom

1432 sqft

Built in 1961.

Property in EXCELLENT condition and need very minor work. See pictures and video links below. My Rough Estimate 5-10k (I'm not a contractor)

Pictures Link (46)

Video Link

Rent Range: 800-$850.

After Repair Value: 72-80k

Comparable Sales:

-4765 Scottsdale Ave, Memphis, TN 38118 Sold on 07/23/15 for $72,700

-4660 Scottsdale Ave, Memphis, TN 38118 3 beds 2 baths 1,490 sqft Sold on 07/31/15 for $77,700

- 4710 Chuck Ave, Memphis, TN 38118 3 beds 2 baths 1,563 sqft Sold on 08/25/15 for $80,200

Access: Please call (901) 602-7874 or email to [email protected]

Property Address: 4875 Dianne Rd, Memphis, TN 38116

Purchase Price: 42.9k

3 bedrooms 1.5 baths

1461 Sqft

Built in 1957

Property needs updates but nothing major. Rough estimate 15-20k

Additional Picture (26)

Video Link

Rent Range: $850-950

After Repairs Value: 85-95k

Comparable Sales:

- 4752 Dianne Dr, Memphis, TN 38116 3 beds 1.5 baths 1,092 sqft Sold on 06/03/15 for $97,900

- 4816 Dianne Dr, Memphis, TN 38116 3 beds 2 baths 1,549 sqft Sold on 03/12/15 for $95,900

- 2039 Wilson Rd, Memphis, TN 38116 3 beds 2 baths 1,647 sqft Sold on 07/24/15 for $95,000

Access: Please call (901) 602-7874 or email to [email protected] Note: This is an Auction home we won the bid on and we’re flipping. You can close on this ASAP. It shows pending on the MLS because we are the winning bidders