Single-family residence buy & hold investment in Marcus Hook.
Purchase price: $80,000
Cash invested: $10,000
This property is a simple small 3 bed 1.5 bath with very little renovations needed. A simple cosmetic job, some paint/carpets, and maybe stainless steel apps are going to make this property a very nice rental for years to come.
What made you interested in investing in this type of deal?
What made my investor interested in this property was the low purchase price relative to the rent in the area.
How did you find this deal and how did you negotiate it?
My team and I move 40-50 properties a month from various off-market avenues, this property was on a first come first serve basis.
How did you finance this deal?
This was a cash purchase.
How did you add value to the deal?
The rehab that my investor is going to be is very basic as the property doesn't need too much. Paint, carpets, stainless steel appliances, maybe fresh up the bathroom.
What was the outcome?
The outcome will be a very nice, low maintenance rental property.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Dan Powers - New Western Acquisitions
i hope you accounted for the fire sprinklers that Marcus Hook requires for rental properties. That's about 8-10k.
@Steve Karpinski I believe this one was in Linwood. No sprinkler needed if that’s the case.
Glad to hear. I was just going off the title of the post lol. I have seen a few people make that mistake so figured I'd mention it. Trainer & Linwood are solid rental areas.
@Steve Karpinski I too have seen my fair share of people surprised by the sprinkler issue in Marcus Hook. This property is right on the border is Trainer & Linwood, so thankfully we avoided that issue.
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