Investing in the Midwest - Missouri (CoMo)

[Kaaren Hall]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $210,000
Cash invested: $40,000

Property just completed rehab. The plan is to hold for 2+ years. Upgraded this 1959 ranch-style house to the 21st Century.

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

My son & his wife moved here. Very affordable market, good opportunity to invest in a college town.

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

This was a pocket listing from a realtor.

How did you finance this deal?

Conventional financing.

How did you add value to the deal?

Rehabbed and brought the property up to date.

What was the outcome?

House looks great! Just finished the main work.

Lessons learned? Challenges?

I live in CA. Homes in MO have basements. There was a foundation issue and got a pro to come in and stabilize. House was built in 1959, so it's not all "square". Learned about working with a GC.

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

Shane Burr, Midwest Mortgage Associates Corp - Office 573.303.3844 - Direct 573.818.2879
Lisa Pryor, Escrow Closer | Monarch Title Company, Inc - Main Office 573.441.0725