Updated over 4 years ago on . Most recent reply
A great little long term hold
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $20,000
We bought this one as a long term rental. The price was too good to miss!
What made you interested in investing in this type of deal?
The house came up, we know the street, the price was right, so we bought it.
How did you find this deal and how did you negotiate it?
Purchase discount and rehab
How did you finance this deal?
100% funded by a passive investor through our private lending program
How did you add value to the deal?
Mostly the purchase price, but we did spend some money updating. new floors, lots of sheetrock repairs, paint all round, and some other sundry items.
What was the outcome?
We have a great tenant in this one, always pays on time and keeps the house nice, and it cashflows about $200/month after all costs/reserve. We also took a small cash out at closing, so we have less than zero in this deal.
Lessons learned? Challenges?
If the deals comes to you, jump on it before it wanders off to someone else!
