Small Single Bed House on 1 acre
Investment Info:
Single-family residence buy & hold investment in Tok.
Purchase price: $55,000
Cash invested: $10,000
Rental house, 1 Bed 1 Bath on 1 acre.
What made you interested in investing in this type of deal?
Owner financed on original purchase, close to home, value added from remodel.
How did you find this deal and how did you negotiate it?
Friends with the sellers
How did you finance this deal?
Owner financing for one year, rehab then 15 yr fixed mortgage.
How did you add value to the deal?
Remodel Bedroom and Bathroom, replaced septic system.
What was the outcome?
Still own unit, have same renters, and has estimated value of $74,000.
Lessons learned? Challenges?
Challenge I have now is raising rent on good tenants, I do not want raise it at this point.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
no