Single-family residence buy & hold investment in Columbus.
Purchase price: $25,700
Cash invested: $12,000
4br, 2ba in Columbus GA
What made you interested in investing in this type of deal?
The low cost of entry and return on the investment made me interested in investing in this type of deal
How did you find this deal and how did you negotiate it?
I found this deal on an auction website
How did you finance this deal?
I financed this deal using my cash savings
How did you add value to the deal?
I added value to this deal by having my contractor lined up and being able to manage the renovation
What was the outcome?
The outcome was a beautiful renovation and a 12-month lease with amazing cash flow.
Lessons learned? Challenges?
The biggest lesson I learned would be to find partners so you can leverage resources and investment in multiple properties at once
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I did this deal on my own
Congrats Karam. It sounds like a great deal. May I ask what auction site did you use?
@Karam A Tascoe I see your profile says SC so are you an OOS investor? How did you choose that property in that part of Columbus, or did you just take a gamble? I'm currently investing in Montgomery, AL but really looking to add Columbus. I did boot camp at Fort Benning (another lifetime ago) and drove to the city on a recent trip to MGM. Are there any neighborhoods that you would recommend and ones to stay away from?
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