PROJECT 1: Memphis, TN.
The Levi Rd., project was a highly distressed Single Family House located in Memphis, TN., where the seller wanted to rid herself from this property after a fews years of neglect. We acquired the property and brought it up to performing status.
This property had been neglected for the past few years and had a lot of deferred maintenance and was boarded up after an unsuccessful and uncompleted renovation. As a result the owner of the property was worn out from worrying about the property liability and associated costs. The owner wanted a fair price but more than anything just wanted to sell the property, put cash in her pocket, and move on.
After talking to the property owner and finding out her goals and motivations with the sale, we all agreed that an outright purchase by our company was the best win-win solution for everyone. So we purchased the property for all cash with one of our lending partners. Once we took ownership of the property we invested heavily into renovating the property and catching up all deferred maintenance, upgrading the inside of the unit, outside landscaping, and as a result were able to increase rent for nice cash flow. This project was a success all around for everyone.
We’re Looking For Partners On Our Next Projects.
At Sol Mar REI, LLC. we’re growing and always looking for our next profitable real estate projects. If you’re interested in partnering on a project with us, connect with us by clicking the button below to go to our Contact page. We’re currently looking to work with people who…
- Have properties that they want to co-develop with us into performing assets
- Want to participate in real estate projects with us as passive cash partners
- Want to sell us their property at a fair price