Robb Bailey from Red Trolley Homes made a complete walk through of a rental property trip he took to Memphis. Later he gave more details of the property he purchased, with a little help given by Marq Cobb from the Memphis Invest Office.
The first cash flow property Robb looked at in Memphis was bought by another investor and Robb ended up buying a different one, still with great cash flow and equity.
Details of the Scarlet Leaf Property in Memphis:
- Three bedrooms
- Two baths
- Double car garages
- Great Floor planning
- Good-looking fireplace
- Cash flows about $320/mo.
- Purchase price of $71,000, including all rehab work
The guys at Memphis Invest will do allthe work for Robb by adding new flooring, paint, fixtures, and kitchen upgrades. Memphis Invest also helps by looking for a potential renter, getting it rented and sends cash flow checks every month.
Marq summarized the detail of Robb’s first cash flow property in Memphis Tennessee, including the why this was the right investment property to buy. This all boils down to net cash flow, after PITI, management fees and any other expenses.
To get the numbers on this property, please leave a comment in the section below. Robb will email you an Excel spreadsheet with the details listed in the Property Information sheet seen in the video, complete with Cash-on-Cash return, total ROI, and full cash flow analysis.
