273 W. Essex Ave. | Case Study

Week 1 – 11/15/2017 – 11/20/2017 273 Essex Evaluation

Full rehab for exterior. This is a  3 bedroom 1/1/2 bath. About 1400 sqr feet of space. Rehabbing for  Special Needs or Disabled Vets through Non-Profit Organization.

Purchased at 13,500 with about 13000 in repairs. This is not a flip project. Only buy and hold for Cash Flow purposes. Once property is completed, furniture installment, then tenant installment at $500 per tenant. Max is 3 tenants bringing a total rental income of $1500 guaranteed from Non-profit Organization. This Rehab is going to start from the top down. Video’s below will follow the rehab as it unfolds to completion.

 

 

Case Study

Challenge

Property stayed vacant  for 10 years and owner could not bring up to code.  No activity on house because of non-interest. Property was in a good community but attracting vagrants. Our task was to get it under contract and sale to buy and hold investor. Most investors are looking for high returns in other states where the market is inexpensive, (cash flowing properties).

 

Solution

(Memphis Discounted Properties, Our Sister Company Acquisitions Team) evaluated and obtain the property because of a distressed situation. After determining what could be the highest return from this property and determining the scope of repairs. we came up with a solution that would best fit this market and investor. (The Affordable Housing Program) This program will enable a tenant to live afford-ably while giving investor 2 to 3 times market rent. The Market Rent is $500 per month in this area. So, we decided on 3 tenants to occupy property at $500 per tenant.  Multiply $500 X 3 beds = $1500 in monthly income

The Investor purchases the property from our inventory, fund repairs while Flowers and Associates team manages the repairs, install the furniture, and Special Needs Tenants from Non-profit organizations.

 

Results

This 3 Bedroom house is now in rehab status. Follow the videos below to witness how it unfolds with special need tenants producing twice the rent paid by Non-Profits Guaranteed

 

 

Roof Evaluation

Week 1 – 11/20/2017 – 11/25/2017

Siding Evaluation And Installation

Week 2 – 11/25/2017 – 12/02/2017

Rotten Wood Replacement | Painting And Siding | Hot Water Tank