Greenwhich St Kutztown....Rental sold to tennat
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $46,000
Cash invested: $46,000
Sale price: $75,000
Purchased house for tenant. They rehabbed and rented for just over two years. They paid half of the 75k in cash, I financed the other half with a five year note. So help tenant have a house paid off in 7 years. Win Win
What made you interested in investing in this type of deal?
Had a coworker that was losing home due to wife having a stroke and falling behind on their home.
How did you find this deal and how did you negotiate it?
Coworker was looking for rental property near job.
So had my realtor look at property it was a bank owned.
How did you finance this deal?
Paid Cash
How did you add value to the deal?
Tenant occupied as soon as closed
What was the outcome?
Rented out for two plus years, tenant purchased. They paid half of purchase, I held note for five years.
Lessons learned? Challenges?
Learned that helping people is why I'm here.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes...Jamie Perez Berks Realty Group