Single Family Buy & Hold
Investment Info:
Single-family residence buy & hold investment in Lexington.
Purchase price: $42,000
Cash invested: $8,000
Purchased at a reasonable price, but required major repairs including foundation and electric in addition to the normal paint, carpet, vinyl, etc... Currently renting with positive cash flow
What made you interested in investing in this type of deal?
Mainly price
How did you find this deal and how did you negotiate it?
Purchased from another investor.
How did you finance this deal?
85% loan for cost of property plus 80% of rehab costs from local bank.
Lessons learned? Challenges?
Didn't realize the extent of some of the repairs, but I went in assuming there would be unexpected problems/expenses.