Having an investment property in a favorable rental market is always a must, in fact the investor who owns this home purchased 4 properties in Little Rock alone. In total, the owner of today's 'Turnkey Transformation' has THIRTEEN properties with Memphis Invest, and was able to use a 1031 exchange to close all 13 of them in less than 2 months. This purchase method is a great deal for investors wanting to exchange properties in expensive markets for cash flowing properties in other areas. A 1031 exchange is a very common transaction that many investors use with Memphis Invest, allowing them to save on taxes but also quickly build their portfolio.
That's enough tax talk for now, I know one of our licensed portfolio advisors can give you all the details and help guide you through the 1031 process. If you want more information, click here to schedule a call with them!
At the end of the day, this Little Rock property is a prime example of what most of our renovations look like with Memphis Invest. While it's not a dramatic transformation, we took a house in a good neighborhood that was looking dingy and worn for wear, and brought it back to life. With plenty of interior and exterior repairs, it took a little less than $40,000 to make this house a home again.
About this Transformation:
The owner of this Turnkey Transformation found Memphis Invest this year through Fortune Builders, a program dedicated to real estate education and development. This investor is from California and currently owns THIRTEEN properties with Memphis Invest so far! For clients who own 5 or more properties, they are a preferred Memphis Invest client and belong to our 'WOW' Group.
This property was renovated for our Memphis Invest client, here's more info about the house:
- 3 bedrooms, 2 baths
- 1,579 sq. ft.
- House was Built in 2000
- New Roof
- New Garage Door
- New AC
- New Furnace
- New Hot Water Heater
Let us know what you think in the comments, we'd love to get your feedback!
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