Single-family residence buy & hold investment in Jacksonville.
Purchase price: $133,000
Cash invested: $32,000
This was our 4th investment property. We bought this with a conventional loan 20% down and remodeled the laundry space and updated some aluminum wiring in hopes that it will cash flow for a few years so we can have enough to renovate it and get more rental income from it.
What made you interested in investing in this type of deal?
I look for appreciation and cash flow in my deals and this met both.
How did you find this deal and how did you negotiate it?
MLS, gave full asking.
How did you finance this deal?
How did you add value to the deal?
Remodeled a non used space into a laundry room and updated wiring.
What was the outcome?
Price on the property has increased slightly and we are receiving 200ish in cash flow.
Lessons learned? Challenges?
Aluminum wiring is not as scary as it seams, alumicons are easy to install.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, Fergus Reeves is awesome and I would recommend him for anyone buying or selling in northern fl!
That is awesome way to keep it rolling it just keeps getting easier and love the get it rented and finish remodels once funds are more available.
@Henry Paschall congratulations on your investment!
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