Property Offered at: -

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7114 Petten Street Memphis, Tennessee 38134

Purchase Price: $55,900
Property Status: Needs Work – About $4,000 to get home into ‘rent ready condition.’

TAX APPRAISAL: $86,300

Closing Costs: $1k (estimated)

Total Monthly Debt Service (Assumes Cash Purchase)

Rent Range: $975

City/County Taxes: $129 (based on 2010 values)
Insurance: $50
Less Management (9%): $88
Positive Monthly Cash Flow: $708/month!!!

Does NOT Account For:

Maintenance (10%): $97.50
Vacancy(10%): $97.50

Total Net Positive Less Vacancy and Maintenance: $513/month

Plus instant equity!

A major cash flow and equity play.  Property has recent TRUE COMPARABLES in the 85k  range.  Located in teh Bartlett Whitten Area right off interstate 40(a major East.West Thoroughfare), this property offers affordable and cost effective living with the air of modern day suburbia! Buy, hold, resell in 3 – 5 years for Maximum profit!

This property qualifies for Robert Feol’s Short Term Retirement Program – a simple, non qualifying permanent lending program where you bring 30% – 50% of the purchase price as a down payment, and we will finance the rest over a 5 year period.  All Short Term Retirement loans feature a fixed rate and full amortization, meaning after 5 years you own your investment home free and clear, without any lien on it.

You can also purchase using private hard money and refinance as well, minimizing your cash out of pocket.

Financing (short and long term), property management, insurance, home inspectors, and contractors are available upon request.

An incredible 3 bedroom, 2 bath stone portfolio addition, this cash flow machine forms the solid foundation of any blossoming rental portfolio!

Investor Fundamentals:

Property taxes are based on $86,300 assessed value, which can be contested to increase cash flow.  Square footage is based on Shelby County Tax Assessor’s information.

We recommend contesting the assessment value to halve your annual tax payments.

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