Newest rental property for us.
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $125,000
Cash invested: $37,000
Contributors:
Nancy Voechting
My wife found, analyzed, and made the offer and got accepted on this house, ConC return of 12%. I am one proud husband, she did a great job on this one. Property manager has someone moving in July 1.
What made you interested in investing in this type of deal?
I was traveling for work for 2 weeks and my wife was looking at properties. Our realtor just finished showing her one property, then said she was going to be listing a single family that was really nice and if she wanted to see it she would be the first to see it.
How did you find this deal and how did you negotiate it?
Our realtor was the listing agent and told my wife about it when she was showing her a different property.
How did you finance this deal?
25% down and convention loan.
How did you add value to the deal?
Everything had fresh paint and new carpet, the exterior was completed a few years ago.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Tricia Brost is our agent in Sheboygan and has done 3 other deals for us.
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