Chester Rental Property

[Dan Powers]

Investment Info:

Single-family residence buy & hold investment in Chester.

Purchase price: $57,000
Cash invested: $15,000

This Chester property was currently bringing in $800/month with tenants on a M/M lease. The bones of this property were solid, but my investor is going to renovate some of the cosmetic items to increase rent. With 3 bed properties in this pocket reaching as high as 1300/month, this will be a cashflow monster all said and done.

What made you interested in investing in this type of deal?

What made my investor interested in this deal was purely the cash flow the property will bring in, 1300/month for sub 70k all in, he's nearly going to hit the 2% rule.

How did you find this deal and how did you negotiate it?

This deal was sourced through New Western Acquisitions and sold on a first come first serve basis.

How did you finance this deal?

This deal was purchased in cash.

How did you add value to the deal?

Value is being added to the property by redoing the kitchen & bath, some new laminate, and a fresh coat of paint.

What was the outcome?

The outcome is going to be a fantastic cash flowing property.

Lessons learned? Challenges?

The only challenge with this property was organizing a cash for keys arrangement with the current tenant to give them extra incentive to move out in a timely manner.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Dan Powers - New Western Acquisitions