College Rental Property #2
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $82,500
College Rental-4-6 beds depending on the group. I am getting $500 per room this year. Net cash flow will be ~$950 per month
What made you interested in investing in this type of deal?
Size of house, price, previous owner made nice renovations to main bath, kitchen, master bedroom.
How did you find this deal and how did you negotiate it?
Zillow, and negotiated price down from $93,000 to $82,500.
How did you finance this deal?
Conventional 20% down, had to liquidate IRA and pay STEEP penalties.
How did you add value to the deal?
Cosmetic work and insulation only at this point.
What was the outcome?
Renting to four college students in August for $2000 a month total.