Single-family residence buy & hold investment.
Purchase price: $138,900
I purchased this house three days before foreclosure. Seller is a licensed agent. They knew me personally, were distressed, and wanted to sell before the foreclosure. I then leased it back to the owner for a year. It is presently leased for $1500 per month.
What made you interested in investing in this type of deal?
It was a good property for buy and hold in a hot rental market.
How did you find this deal and how did you negotiate it?
I knew the seller.
How did you finance this deal?
I paid mostly in cash and took a small 1st.
How did you add value to the deal?
I kept the seller from having a foreclosure on their credit.
What was the outcome?
It is presently leased.
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