Property Offered at: -

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3699 Wayne Memphis, Tennessee 38122

Purchase Price: $42,900
Property Status: Needs repairs – included in price.

TAX APPRAISAL: $45,000

Closing Costs: $1k (estimated)

Total Monthly Debt Service (Assumes Cash Purchase)

Rent Range: $650 – $725

City/County Taxes: $68 (based on 2010 values)
Insurance: $40
Less Management (9%): $58.50
Positive Monthly Cash Flow: $483.50/month!!!

Does NOT Account For:

Maintenance (10%): $65
Vacancy(10%): $65

Total Net Positive Less Vacancy and Maintenance: $353.50/month

Plus instant equity!

A necessary ‘piece’ of your cash flow puzzle.  All investors need these low cost, high cash flow homes with amenities like central HVAC and low maintenance vinyl siding.  The sub $700 rental market is very hot in Memphis right now, and tenants are LOOKING for this type of residence to cut their overhead in a down economy.  Sold for almost 55k in 2008, and includes a 2 car garage!

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.

Nice bread and butter 2 bedroom 1 bath that will pay you month after month.  What are you waiting for?

Investor Fundamentals:

Property taxes are based on $45,000 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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