All Forum Posts by: Michael Hayes

I still have a few properties left from last weeks post.  See the information below.  If you have any questions, please contact me.  Thanks!

3726 Julia St. Memphis, TN 38127

Asking: $28,500 ARV: $54,579

Bedrooms: 3

Baths: 1

Sq.ft: 1228

Will rent: $750/mo

3381/83 Eastport Cv. Memphis, TN 38118 (Duplex)

Asking: $26,500

ARV: $71,992 Bedrooms: 2 per unit

Baths: 1.5 per unit

Sq.ft: 1852

Rent: $550/mo per unit

4705 Old Raleigh Millington Rd Memphis, TN 38128
Asking: $27,500
ARV: $75,335

Bedrooms: 4

Baths: 3

Sq.ft: 1800

Rent: $990-$1100/mo

4993 Tulane Rd. Memphis, TN 38109
Asking: $9,500
ARV: $55,150

Bedrooms: 4

Baths: 2 Sq.ft: 1308

Rent: $816/avg

4486 Kerwin Dr. Memphis, TN 38128 Asking: $19,500 ARV: $55,925
Bedrooms: 3 Baths: 2 Sq.ft: 1244

Rent: $725/mo

255 Blairemore Ave. Memphis, TN 38109

Asking: $31,500

ARV: $50,373
Bedrooms: 3 Baths: 1.5 Sq.ft: 1116

Rent: $710/mo

4510 Villawood Dr. Memphis, TN 38118 Asking: $36,500 ARV: $49,787
Bedrooms: 3 Baths: 1.5 Sq.ft: 1092

Rent: $781 - $827/mo

325 McFarland Dr. Memphis, TN 38109 Asking: $29,500 ARV: $52,376

Bedrooms: 3

Baths: 1.5

Sq.ft: 1235

Rent: $750/mo

All homes need some form of rehab (light rehab to complete interior rehab). Please follow the link below for complete picture sets to each house along with videos to get a visual of work needed. Rent estimates courtesy of www.rentometer.com. More details can be found on the website below. For any questions, please contact me!

https://www.dropbox.com/sh/scqhfgjaszr7lqi/AADXMV1ijl2LN0X2J5FouEyla?dl=0

www.HayesInvestmentDeals.com

Thanks,

Michael Hayes

Hayes Investment Deals LLC

901-830-8468

[email protected]

Sending you a message now.

I have several wholesale deals available.  

3726 Julia St. Memphis, TN 38127

Asking: $28,500 ARV: $54,579

Bedrooms: 3

Baths: 1

Sq.ft: 1228

Will rent: $750/mo

3381/83 Eastport Cv. Memphis, TN 38118 (Duplex)

Asking: $26,500

ARV: $71,992 Bedrooms: 2 per unit

Baths: 1.5 per unit

Sq.ft: 1852

Rent: $550/mo per unit

4705 Old Raleigh Millington Rd Memphis, TN 38128
Asking: $27,500
ARV: $75,335

Bedrooms: 4

Baths: 3

Sq.ft: 1800

Rent: $990-$1100/mo

4993 Tulane Rd. Memphis, TN 38109
Asking: $9,500
ARV: $55,150

Bedrooms: 4

Baths: 2 Sq.ft: 1308

Rent: $816/avg

4486 Kerwin Dr. Memphis, TN 38128 Asking: $19,500 ARV: $55,925
Bedrooms: 3 Baths: 2 Sq.ft: 1244

Rent: $725/mo

255 Blairemore Ave. Memphis, TN 38109

Asking: $31,500

ARV: $50,373
Bedrooms: 3 Baths: 1.5 Sq.ft: 1116

Rent: $710/mo

4510 Villawood Dr. Memphis, TN 38118 Asking: $36,500 ARV: $49,787
Bedrooms: 3 Baths: 1.5 Sq.ft: 1092

Rent: $781 - $827/mo

4854 Burgess Cv. Memphis, TN 38118 Asking: $29.500 ARV: $47,522

Bedrooms: 3

Baths: 1.5 Sq.ft: 904

Rent: $750/mo

3654 Kipling Ave. Memphis, TN 38128 Asking: $29,500 ARV: $55,305

Bedrooms: 3

Baths: 1.5 Sq.ft: 1450

Rent: $725/mo

325 McFarland Dr. Memphis, TN 38109 Asking: $29,500 ARV: $52,376

Bedrooms: 3

Baths: 1.5

Sq.ft: 1235

Rent: $750/mo

All homes need some form of rehab (light rehab to complete interior rehab).  Please follow the link below for complete picture sets to each house along with videos to get a visual of work needed.  Rent estimates courtesy of www.rentometer.com.  More details can be found on the website below.  For any questions, please contact me!

https://www.dropbox.com/sh/scqhfgjaszr7lqi/AADXMV1ijl2LN0X2J5FouEyla?dl=0

www.HayesInvestmentDeals.com

Thanks,

Michael Hayes

Hayes Investment Deals LLC

901-830-8468

[email protected]

Thanks for the replies everyone.  It seems like it may not be worth it just for a short-term, wholesale flip.  I'll keep these points in mind when I'm dealing with a property I plan to hold personally.

Excuse the typo,  The current person looking to sell the house bought it in a tax sale.

So I have a property under contract that I may not be able to do.  Hoped I had a winner on my hands.  Never been in this situation before so not sure which road to take.  The buyer bought the property in a tax sale, and it was quit claimed.  The quit claim is scaring off a lot of my potential buyers because of the title issues that could come with it.  Any way around it to get this thing done?  Has anyone been in this situation before?

@John Dudas that has been my experience so far. Its been extremely hard to find those lenders. Most I've talked to will only refinance at $45k minimum. The mortgage company I bought my primary residence through said they would do $35k, but of course it would have to appraise for $45k or so and I would still need 6 months seasoning. This will be my first time going this route with the buy and holds, so I'm still learning as I go. Talked to a lender last night at a REIA meeting, and he told me that most lenders just want do below $45k-$50k because its not worth it. I'm under the impression that overall you just have a better chance of refinancing for what you put in if you hold for 6 months. Along the lines of what @JD Martin was saying.  Properties I've purchased before, I used cash, held for a year or so, and sold for only a slight profit.  A few years wiser and I'm trying to use some of the knowledge I'm gaining from being around more seasoned investors.

Messaging you now @Alec McCullough

New wholesale deal in Memphis, TN at 4226 Chippewa Rd. positioned in a great neighborhood. Priced low to sell fast.

$18,500 asking price with a $65,801 ARV. Home has an addition in the back that will need to be completed along with a new roof, and new siding along the exterior. Also needs basic cosmetic repair and upgrades. Refer to video for complete property walkthrough.

3160 Standard Dr. Memphis, TN 38111 also still available for $16,500.  3bd 1.5ba, 1350sf.  Needs new roof, covered parking needs repair, and interior needs rehab job finished.

I can package both properties together for a lower price.  Feel free to contact me with any inquiries or for viewing instructions.

Complete property details on www.HayesInvestmentDeals.com

https://www.youtube.com/watch?v=ktOV4ECEmGc

4226 Chippewa Rd.

http://www.youtube.com/watch?v=7evpYwdQfmk   3160 Standard Dr.

Thanks for the responses. 

@Larry Turowski exactly.  And honestly I don't think it will appraise for $45k.  More like $41k and I certainly don't want to get stuck in a hard money loan on this one.  That's why I need to find an alternative lender who deals with some of those cheaper properties. It's under contract now, so it will most likely be assigned over, but it is a great property and I wouldn't mind restarting my portfolio with it.

@Darren Eady this is exactly what I'm trying to do.  I don't have to cash out at all.  I simply want to roll over into a 30 year that will replace the hard money immediately after I make repairs and place a tenant.  I'll definitely check out the video.

@Ivory Hayes you should check out Lima One Capital.  They deal with some of those harder to refi homes.  Interest rate is a little higher, but it sounds like you would qualify.