Buy and hold #1 - Elgin

3 Replies

Investment Info:

Single-family residence buy & hold investment in Elgin.

Purchase price: $84,500
Cash invested: $1

Purchase price: $84,500 (with extra for $40,000 construction loan) private money
Rehab: $29,500
Refi: $124,500 (rate and term)
ARV: $180,000
Rental income: $1500
Property management: $120
NOI: $1061
Principal + Interest: $657.28
Cash-flow: $404

What made you interested in investing in this type of deal?


How did you find this deal and how did you negotiate it?


How did you finance this deal?

Front end: Private money
Back end: Rate and term conventional

How did you add value to the deal?

Cosmetic rehab

What was the outcome?

Tenant signed 2 year lease for $1500

Lessons learned? Challenges?

Permitting can be a nightmare

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