offering summary 4156 lansford...4156 lansford memphis tn 38128 the offering this 1376 sq. ft. 3...

OFFERING SUMMARY

4156 LansfordMEMPHIS, TN 38128

2 STRATEGIC MARKETS. ONE STRATEGIC TEAM

Property Offering Tables of Contents

I. Welcome Letter

II. Our Seamless Process

III. Property Offering with Neighborhood Info

IV. Cash Flow Analysis

V. MLS Sales Comps – 3 Up Report

VI. Renovation Scope of Work

VII. Turnkey Properties Warranty

VIII. Insurance Information & Quote

IX. Testimonials and You Tube Page Link

TWO STRATEGIC MARKETS. ONE STRATEGIC TEAM.

1060 Brookfield Road, Suite 100

Memphis, TN 38119 PHONE: 901-410-5452

FAX: 901-205-0629

TurnkeyInvestProperties.com

November 28, 2017

To our current and prospective clients:

Enclosed in this packet you will find various pieces of information about our latest offering in Memphis,

TN.

Our goal as a turnkey provider is to provide an asset that will maximize your cash flow. We accomplish

this by doing a thorough renovation that will reduce maintenance and vacancy. We also address

deferred maintenance items and add upgrades such as vinyl plank flooring and ceramic tile that are

not only more durable, they also make the home stand out above competing rental properties in the

area.

As landlords ourselves, we know through personal experience maximizing profits starts with the

renovation and continues with a strong management team, which we bring to you through our in-

house property management company.

If you have any questions, please feel free to reach out to us at 901-410-5452. We would be happy to

provide you any amount of information we can to make you feel comfortable with your investment

decision.

Thanks,

Alex Craig

President

Turnkey Properties


Defining our proven process…

Once a purchase agreement has been signed by all parties I will send you an invite

to Basecamp. What is Basecamp? Instead of having stuff scattered all over the

place — strewn across separate products, lost in inboxes, or scrawled on stickies or

notepads — Basecamp brings everything under one roof. Organized, centralized,

and clear so everyone knows what to do, everyone knows where things stand, and

everyone can get what they need without having to ask. Inside every basecamp

project you will find

o To-dos for tracking work. To-dos organize the work, set due dates, and

assign responsibility so we are able to close in a timely manner.

o Message Boards for posting announcements and updates. Discussion

boards keep the entire conversation about a specific topic together

on a single page

o Schedule for posting deadlines and milestones, and

o Docs & Files for organizing all the assets and important notes, such as

the inspection report

➢ The first to-do to address would be sending the earnest money, which would

be assigned to you, the buyer. I will confirm it was received at an later date.

➢ After you initiate the earnest money, I take the reins on most everything else,

although it is important for you to stay in contact with you lender.

➢ From here I will send the lender and the title company a copy of the

purchase agreement and communicate to the lender that I am the local

point of contact regarding information on the property and scheduling the

appraisal.

My name is Holly Evans and I will be your personal

transaction coordinator. I am here to help make the

process of purchasing an investment home go as

smoothly as possible. My goal is to take the workload

off you and coordinate all tasks needed to close. It

really is a simple process!


➢ I will provide you with an insurance quote from our preferred carrier, Insight

Risk Management, for you to review. If you wish to move forward with the

policy, I will be happy to connect you and your lender with IRM.

➢ When the rehab has been completed on the property I will ask if you would

like to use our recommend inspectors or chose one of your own. If you

choose to go with our recommended inspectors I will send a connecting

email, if not, I will provide my telephone number to you in which your chosen

inspector can reach me.

➢ At this time I will notify your lender we are also ready for the appraisal. The

appraiser will contact me directly to get this scheduled.

➢ Inspection will take place and a report will be sent to you. You will share the

report with me and we will review it, mark it up, and give it to our project

manager.

➢ Our project manager will address all issues and send me corresponding repair

pictures that I will share with you.

➢ You will receive the appraisal from your lender. We ask if you could please

upload it so we may have a record of it.

➢ At this time, closing is right around the corner. It is crucial at this point stay in

constant contact with your lender so we may close on the property. Lender

will receive the appraisal, it will go into underwriting, and then receive the

clear to close. The title company will work directly with you and your lender to

schedule a signing/closing date that work for everyone.

➢ When applicable, I will update you on the leasing status of the property on a

weekly basis.

➢ Lastly, you close on the property and I connect you directly to your account

manager with our Property Management team, rounding out our COMPLETE

turnkey operation.


4156 Lansford Memphis TN 38128

The OfferingThis 1376 Sq. Ft. 3 bedroom 1.5 under went a thorough renovation that will help the property cash flow better by addressing deferred maintenance items and rent quicker because of the updates completed. This property is one of the larger 3 bed 1.5 bath houses in the area and features not only a 2 car carport, but also an large 2 car detached garage in the backyard. Most likely the 2 car garage would be used as additional storage or an workshop, but whatever the use may be, it gives the house an competitive advantage over other houses in the area. We believe this feature allows for Property Management to ask for additional rent as the carport & garage is certainly an added benefit.

Area Highlights Area Housing Profile

• Close proximity to I-240• Although on North side of Loop, still only 20

minutes from airport area & 15 minutes from downtown

• Redevelopment of old Raleigh Springs Mall area• Close proximity to Austin Peay Hwy that serves as

main business hub for all of 38128

• 84% Owner Occupied (Although we see that # trending down)

• Median Household Income: $62,570• 100% of rents above $750 for SFR• 59% of all move in's in between 2000 to

20009


Cash Flow Analysis- 4156 Lansford


MLS Sales Comps - 4156 Lansford


4156 Lansford Scope Of WorkRoofTear off- 3 layers25 yr Royal Sovereign Gray Weathered Stain Guard 3-Tab Shingles

General SpecReplace Blinds as Necessary Closet rods in all closetsInterior 3 color Paint with focus on no paint bleeds or paint over of outlets or hinges Interior door open and close smoothlyKitchen and hall smoke detector along with kitchen Fire Extinguisher installed CO2 alarm installedCheck insulation around all exterior doorsStrike plates on doors Jack up center beam that runs under hallway and shim it.Install new beam and tie it to existing wall in kitchen exterior back wall and replace window.Floors: • New spec vinyl plank in dining, kitchen/laundry, den, and hallway• New carpet in bedrooms

Plumbing SpecCheck all valves, P-traps and DWV pipe for leaks (replace supply lines, valves and p-traps as necessary). Check shower drains and area drains for proper installation and drainageInspect plumbing in crawl space and attic Check toilet for property installation. Repair and replace as necessaryReplacement toilet if needed (HD # 340995)Repair & replace exterior hose bibs as necessary Check Washer Box for property function and drain fall and ventingCheck DWV system for plumbing back up (run all fixtures simultaneously for long period of time)All plumbing pipes to be insulatedWhen HWT is installed code has to be met


Install extension pipe on temperature/pressure relief valve on HWT if neededHWT GE 2006 KEEPLaundry box. NEW

Electrical SpecAll outlets work and verified through tester No open grounds/all new outlets and switches Weather heads checked and replaced/repaired as necessaryAll interior and exterior outlets/switches have ivory cover plates Open junction boxes closedAll interior/exterior lights workingProper Breaker Amps in box for reciprocating itemService box adjustment to meet codeService Panel. OKRemove illegal wiring in detached garageInstall fans in both bathroom

HVAC SpecCondensate line checked for clearance Ducts not smashedAC’s exterior lines insulated & cage installed AC. YEAR Rheem 2001 NEWFurnace Rheem 2001 KEEPThermostat OKFilter 16x25x1

Exterior SpecAll grounds cleaned of construction debris and no paint on foliage All windows open and lock, check for cracksCheck Fences, Gates for Repairs. Replace as necessary.Security Doors rekeyed and repairPaint wood siding, trim and shuttersPressure wash walkway to the door Repair soffit and siding as neededAll exterior lights workingClean/replace gable’s vent screensFill crack in back (patio behind kitchen)Patch cracks in foundation wall


Landscaping Make flower bed on right side of steps with landscape timberPlant 5 bushesClean groundsPut mulchMow grassRemove shrubs close to the houseCut grass

AtticAttic door & attic in general insulated wellClean

HallwaySpec BN (HD #353598)Spec attic ladder (HD# 452801)

DenMove existing BD2 fan to Den

Dining RoomSpec Chandelier (HD #245200)

Hall bathSpec light (4bulb HD# 108898)Spec shower head (HD# 725532)Spec faucet (HD # 247368)Spec beveled Mirror (HD# 1001085210)Spec vanity (HD #245121)Floor. Ok.Walls. Ok.

Kitchen & LaundryPaint cabinetsSpec Vent-A-Hood (HD# 435140 Black)Spec faucet (HD# 1000000695)Spec sinkSpec HD countertopsSpec white kitchen fan (HD# 754470)Spec Dishwasher (HD #527767) BlackSpec BN hardwareSpec light above sink (HD# 1000054715)

Bed 1Spec BN (HD #353598)




Master BedMove existing BD1 fan to MBRSpec closet doors

Master BathSpec light (4bulb HD# 108898)Spec faucet (HD # 247368)Spec beveled Mirror (HD# 1001085210)Spec vanity (HD #245086)Floor. Ok.Walls. Ok.

GarageSpec wall light (HD# 245746)

Front PorchSpec wall light (HD# 1000527751Paint floor spec grey

Back PatioSpec ceiling light (HD# 1000640737)

Detached GarageSpec wall light (HD# 1000527751Garage door OK

TWO STRATEGIC MARKETS. ONE PROVEN TEAM.

Turnkey Properties, GP

OUR MAINTENANCE GUARANTEE Property inspections are not always successful in finding all the flaws with a

property as our home inspections are done typically while the home is vacant

or soon after a tenant moves into the property. Such flaws that are present may

only surface when a tenant has been living in a house cycling and running

simultaneous items within the major systems of the house. To protect our clients

cash flow and give them piece of mind with their purchase, all Turnkey

Properties come with a maintenance guarantee of 90/180 days after the

purchase date listed on the closing settlement statement. If a tenant is not in

place at time of closing, the warranty would begin after tenant occupancy as

listed by the 1st day on the tenant lease.

The 90-day warranty covers items within the 4 walls of the home. The 180-day warranty covers the HVAC

system of the house. Depending on when the property was bought, it may be impossible to test the entire

heating and air system. For example, if a property was bought in January, it would be impossible to test

the AC for property function. The 180-day warranty is designed to give our investor piece of mind that the

heating and air system is functioning properly.

Between our renovation, the client’s property inspection and this warranty, we are successful in in

substantially reducing the maintenance cost well below our projections during the first few years of

ownership, especially during the initial tenant lease. This warranty is our commitment that we stand by

the work performed during the renovation of the property and from the inspector’s punch list; however,

there are a few items that can happen completely out of our control, which are listed in the exclusions

below.

Certain items are excluded from the 90/180 day warranty. These items include:

• Damage done due to tenant negligence

• Vandalism/Theft

• Acts of God

• Force Majeure

• Power Surges

Property Address: ____________________________________________________________________

Buyer: _______________________________________________________________________________

Seller: _______________________________________________________________________________

Date: _______________________________________________________________________________

• Appliances not installed by Memphis Turnkey

• Pilot lighting of Furnace

• Vermin

• Products that fall under Manufactures warranty

TWO STRATEGIC MARKETS. ONE PROVEN TEAM.

Dear Investor,

As you know, we are constantly developing new techniques and ideas for maximizing the

returns on our properties. One of our largest expenses is insurance, and thus we have worked

with a local broker, Insight Risk Management, to put together a program that will afford all of

our clients the best possible coverage at the most competitive rates. By aggregating all of our

insurance purchasing with a single company, we have been able to leverage the volume to

get better pricing than can be achieved by any one investor.

This program is tailored specifically for our rental properties and has the following coverages:

1. Replacement cost coverage so that the insurance company is obligated to replace

the property, subject to the deductible, without any allowance for depreciation or

similar limitations

2. Limits of $90 a square foot, which should be appropriate under most circumstances,

though you should review your own home to ensure this is sufficient

3. Lost rents of $12,000 a year should a large loss occur

4. $2,500 deductible without any other charges such as depreciation or coinsurance

5. $1,000,000 of general liability coverage per location, thus providing separate limits for

each house. There is a $3,000,000 aggregate.

6. Standard general liability wording without any exclusions for assault, battery, sexual

abuse or animals

7. No coverage for contents, so you are not paying for any contents that you do not own

8. There is no vacancy limitation. Theft and vandalism is covered the entire term.

9. “A” rated carrier

A typical house costs about 33% less on this program than with other carriers, and no individual

underwriting is required.

Sincerely

Alex Craig

President

Turnkey Properties

Date: 8/10/2017

Thank you for your interest in the CB Properties insurance program. It is written with Great American E

& S Insurance Company. Below is a summary of the program. If you have any questions, please feel free

to reach out to us. Jake Kirk is the program administrator and can be reached at +1 901-202-8667 or

[email protected].

• This program was specifically designed for the rental houses that CB Properties manages and

has been tailored to fit their profile. Thus, in order to qualify for the program, your house must

presently be managed by them. If at any time this is not the case, we will have to arrange for an

alternative insurance arrangement for you.

• Perils: Special. This is the broadest coverage available, though it excludes earthquake and

flood.

• Valuation basis: Replacement cost. The policies replace any damaged building, without

subtracting any amounts for depreciation, provided you rebuild. The alternative valuation basis

is called Actual Cash Value, but this should be avoided if possible because it can leave an owner

without sufficient coverage to cover losses.

• Limit: We use the Shelby County Assessor to estimate the square footage of the building. If this

is incorrect, then please let us know. Buildings are insured for $90 a square foot.

• Contents: No contents coverage is typically provided as most owners have no contents in the

building.

• Business income: $12,000 loss of rents is included to protect against loss income due to an

insurable event.

• Sewer backup sublimit of $10,000 per location.

• Deductible: $2,500 per occurrence.

• Liability: each house has a dedicated $1mm limit per occurrence / $3mm in aggregate limit.

Thus, any liability losses that occur to other members of the program have no effect on the

limits that you will have dedicated to your home.

• Vacancy: There is no limitation. Theft and vandalism are covered.

• Additional insureds: the management company as well as any lenders is automatically included

as additional insureds on the policy at no extra charge.

• Coverage is contingent on CIS, Services receiving the premium, and no coverage is in force until

such premium has been received. Coverage will be effective from the Start Date and run 12

months. You will be contacted at renewal to see if you would like to renew coverage.

Based on the information that we have been provided, below is a quote for your investment property:

Property Address: 4156 Lansford Dr, Memphis, TN 38128 Premium + Tax = $533.29

• Building limit: $114,300 (1270 sq ft)

• Business income limit: $12,000

• Deductible: $2,500 for all perils.

• General Liability limit: $1mm per occurrence / $3mm in aggregate.

mailto:[email protected]

To place coverage, we require the following:

• Written acceptance of quote (e-mail is acceptable)

• Payment (provided at closing if this is a new purchase). This program only

accepts checks or Electronic Fund Transfers. Credit/debit card payments

are not an option. An invoice will be provided and all payments will go to

CIS, Services.

• Full name, address, phone number and e-mail of the entity or person that

owns, or will own, the property

• Mortgage company or lender, if any, with complete address and account

number if available

• Confirmation that CB Properties is the property manager for the

foreseeable future

If this property is a new purchase, we will send the certificate of coverage to the closing attorney who

will include the insurance premium as part of the closing costs, just let us know who will be doing the

closing. Otherwise, we will invoice you directly via e-mail.

PLEASE NOTE THIS QUOTE IS ONLY VALID FOR 30 DAYS FROM DATE OF QUOTE.

Thank you for the opportunity to provide you a quote.


Click on the Image Below to Hear What our

Clients are Saying About Us!

Turnkey Client of the Month

Also Check Out the Rest of Our You Tube Page for

Interesting Videos about our Company, Real Estate

Tips and Past Renovations. Click on The You Tube

Logo Below to Get There!

www.youtube.com/user/memphisturnkey

https://www.youtube.com/user/memphisturnkey

https://www.youtube.com/playlist?list=PLOgCUKQUs1S0cOi-hQ2pzDjy1V6dEm-cw

https://www.youtube.com/user/memphisturnkey

offering summary 4156 lansford...4156 lansford memphis tn 38128 the offering this 1376 sq. ft. 3...

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