The house is in need of some cosmetic updates to bring the property to current rental market standards and is primarily comprised of new carpet, paint, and laminate tile.
The couple plans to subcontract the project and have build-out and completion within 30 days and the tenant taking occupancy thereafter.
Together they attended several continuing education classes at their local community college and decided upon the subject property for their first purchase.
The 1,356 SF house is located in the Red Mill Estates neighborhood.
is a newly formed S-Corporation wholly owned by Steve and Linda Rogers for purposes of purchasing and owing income producing real estate. fills the void in the local Franklin, Tennessee rental housing market by providing clean, well cared for rental homes to well qualified tenants.
Neither the homes nor the ten\ants are chosen on a hasty basis, but rather on purposeful, planned and methodical basis.
The house is a wonderful opportunity for the teacher to launch a fresh start and the location is 5 minutes to the school where she teaches with Linda. The Red Mill Estates neighborhood has lush landscaping, larger than average lots and is primarily owner occupied.
The tenant has passed the credit and rigorous background checks and her references have all checked out. The surrounding neighborhoods are middle class suburbs with five grocery stores within a 5 mile radius, various restaurants, and shopping malls 3 miles away near the easily accessible I-65.
Updates to the property will primarily be cosmetic to bring the property to current market standards. provides clean, quality homes in growing markets to well qualified tenants. Supplemental income will include: Forfeited Deposits Bounced Check fees (NSF) Late charges Damage and Cleaning Charges Application fees Pet Charges Lease Termination charges There are seven rental income properties within a 1 mile radius of the subject along with several multifamily apartment units.
For comparison purposes, the multifamily units have been excluded from this comparison.