Single-family residence buy & hold investment.
Purchase price: $106,000
Cash invested: $15,000
This property was purchased off market and appraised for 60k over purchase price. It has a long term tenant in place. There is room to increase rent with some repairs. I plan on doing this over the next year.
What made you interested in investing in this type of deal?
Potential for commercial use in the future.
How did you find this deal and how did you negotiate it?
I found this through a referral. I offered 50k less than asking and agreed to purchase it as-is.
How did you finance this deal?
Traditional Bank Financing.
How did you add value to the deal?
This property has a long term tenant but I will gradually improve the property and increase rent to market value.
What was the outcome?
This is a low maintenance rental with lots of potential.
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