Updated over 1 year ago on .
The Facebook house ๐
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $106,000
Cash invested: $6,000
Sale price: $106,000
Acquiring 3749 Ladue St in Memphis, TN was a strategic move in our real estate portfolio. Utilizing seller financing, we secured this promising single-family home for a purchase price of $106,000 with a $4,000 down payment. The property, located in a desirable rental pocket, boasted three bedrooms, one and a half bathrooms, and functional central heating and air conditioning systems.
Our financing arrangement spanned 30 years, resulting in a monthly payment of $990.58 covering principal, interes
What made you interested in investing in this type of deal?
CASH FLOW
How did you find this deal and how did you negotiate it?
Found the deal on Facebook negotiated through a realtor
How did you finance this deal?
Seller financing
How did you add value to the deal?
Buy buying it
What was the outcome?
positive cash flowing $359.42 tenant has been late every month at a $75.00 late so total cash flow has been $434.42
Lessons learned? Challenges?
our first exit strategy was to sell own a wrap around mortgage creating a second note and financing our desired equity position but to find the end buyer was a challenge so we decided to rent it out after 3 months of vacancy
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
yes
