Single-family residence buy & hold investment in Darby.
Purchase price: $55,000
Cash invested: $5,000
This property was part of a package deal with another darby property right up the block bringing in a combined $1500 a month. These properties needed very little in terms of rehab, and the tenants were planning on staying with a slight rent increase.
What made you interested in investing in this type of deal?
My investor was interested in an already cash-flowing investment with very little work needed. Also with the slight increase in rent, the cash flow would be that much sweeter.
How did you find this deal and how did you negotiate it?
This deal was a first come first serve, through New Western Acquisitions.
How did you finance this deal?
This deal was purchased with cash.
How did you add value to the deal?
The value being added to the deal will be in minor cosmetic updates mainly to the kitchens and slight bathroom work as well.
What was the outcome?
The outcome is a turnkey cash-flowing property and the owner will not have any worry about the tenant leaving.
Lessons learned? Challenges?
Honestly, this transaction was pretty painless, investor liked the number and the condition of the property. Made sure there were no structural issues, and quickly wired the deposit, and locked up the property.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Dan Powers - New Western Acquisitions
@Dan Powers nice! thanks for sharing!
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