4386 Elysian Dr, Memphis, TN 38128

Buy Price $62,900

Great investment home in the Raleigh community.

This home has gone through complete cosmetic overhaul including flooring, paint,service plumbing service the HVAC, blinds, rekey locks, etc to put home in a rent ready condition.
Homes are hand-picked to be on the best streets and neighborhoods for cash buyers.
FINANCING SCENARIO

Buy Price $62,900
20% Down Payment (of purchase price) $12,580
Closing Cost $5,500
Commission Differential $0
Renovation Cost $0
Total Money Out of Pocket $18,080

Loan Amount $50,320
Payment PITI + Prop Management $474
Cash Flow Low End Rent Range $326
Cash Flow High End Rent Range $426
Total Equity in Project $4,100
Cash on Cash ROI (If Already Leased) 19.27%

CASH SCENARIO

Buy Price $62,900
Closing Cost $750
Commission Differential $0
Total Money Out of Pocket $63,650

(Payment) Taxes+Insur+Prop Manage $196
Cash Flow Low End Rent Range $604
Cash Flow High End Rent Range $704
Total Equity in Project $4,100

Cash on Cash ROI (If Already Leased) 10.39%
***Note – ROI takes into account, your payment including taxes, insurance, prop management, $750 yr maintenance.

“About 11 million Americans — roughly 1 in 4 with a mortgage — are underwater,” according to CoreLogic, a real estate data firm.


The Obama administration announced its latest plan to help troubled homeowners, enabling an estimated 3.5 million underwater mortgage holders to refinance at today’s historically-low interest rates.


However, experts speculate the proposal—which is expected to cost up to $10 billion and would be paid for by imposing a fee on major banks—could have a difficult time getting Congressional approval.


This proposal follows a string of government-initiated programs that have had mixed success, including the Making Homes Affordable Program a government program that claimed:

“There are a variety of MHA programs that may help homeowners having difficulty making mortgage payments. . . . Maybe your expenses have increased due to medical bills or you’re picking up the pieces after a separation or divorce. Maybe you’re trying to get by with less because your hours were cut or your business stumbled. In any case, it’s important to be proactive. MHA can help you get real help and real answers right now.”

Obama noted in a recent press conference that the MHA program had “fallen short of expectations.” The difference now is, Obama’s latest plan would assist borrowers with private (non-government backed) loans. Some of Obama’s comments include:

“I am sending Congress a plan that will give every responsible homeowner in America a chance to save about $3,000 a year on their mortgage by refinancing at historically low rates,” he told an audience in Falls Church, Va. “No more red tape. No more runaround from the banks.”

“I want to be clear: this plan, like the other actions we’ve taken, will not help the neighbors down the street who bought a house they couldn’t afford, then walked away and left a foreclosed home behind. It will not help those who bought multiple homes just to speculate and make a quick buck.”

Under the current proposal, to be eligible borrowers (about 11 million whose loans are backed by Fannie Mae and Freddie Mac, and about 3.5 million whose loans are privately held) must:

• Have not missed a mortgage payment in the past six months, and have no more than one late payment in the six months prior;
• Have a credit score of 580 or higher;
• Have a current mortgage balance within loan limits for FHA-insured loans in their communities; and
• The property must be their primary residence

It’s important to remember that this program would require Congressional approval, which may never happen.


Obama closed his proposal with this sobering fact, “No program or policy will solve all the problems in a multitrillion-dollar housing market. The heights the housing bubble reached before it burst were unsustainable. It will take time to fully recover. And it will require everyone to do their part.”

If you are on the edge, if you are facing foreclosure and desperate for help, don’t let the media talk of this proposal distract you from finding a real solution.


Related Articles:

Mortgage Relief Plan Aims at Refinancing – New York Times

Obama’s Mortgage Relief Plan Is Immediately Attacked By The Right-Wing Media – Media Matters

Helping Responsible Homeowners – Obama

Click to View Available Investment Properities

Using data from city-data.com and realtytrac.com, I have created the following tables to make things a little easier for you. (these statistics were based on the data availabe 2/9/2012)

More specific information about various properties can be obtained by requesting a Market Snapshot of that address. Simply sign-up for the Market Snapshot and request information about the address you are interested in.

3624 Birchmeadow Cove

“As Europe’s financial crisis turns into a deeper recession, Europeans will spend less on nearly everything, including real estate. But for those Europeans who would still be in a position to invest, U.S. assets — including U.S. real estate — could turn out to be safer investments than European stocks, bonds or property.”

In the wake of financial tension and bailouts, the euro is struggling. This is isn’t news to Europeans, but the question for them is, “What now?”

As the euro continues crumbling, so do the stocks, bonds, and property values. Thus, many investors may be looking for a new – safer place to invest their money. While this won’t be possible for everyone, it is a tangible way to protect against the declining euro.

The real estate market in the US will be flooded with new foreclosures this year, which will provide incredible opportunities for investors to purchase properties considerably under their market value. Then, that property can be rented to create monthly cash flow for the investor.

Consider the following investment:

3100 Mensi, Memphis, TN 38127