Updated over 3 years ago on . Most recent reply
Deal Brought Back to Life! 19% ROI
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $151,000
Cash invested: $39,500
3BR 1.5BA SFR. Traditional finance. The original purchase agreement was for 179k. The appraisal came in at 151k. The seller was very understanding and great to work with. ROI was 17% on 179k. ROI is now 19% with the closed purchase price. Need to tip my hat to Rent to Retirement for helping me negotiate the deal. Eric Winkler was great to work with. Depending on interest rates in the future. Probably something I will sit on and hold for a while.
What made you interested in investing in this type of deal?
Building REI portfolio
How did you find this deal and how did you negotiate it?
Rent to Retirement (both on finding the deal and negotiating it)
How did you finance this deal?
Traditional finance with 25% down.
How did you add value to the deal?
Was able to get the purchase price at appraisal value.
What was the outcome?
Probably turn into buy and hold.
Lessons learned? Challenges?
A deal is not dead until it's dead.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Eric Winkler, Rent to Retirement. Highlands Lending. IronClad Group.