Updated over 1 year ago on .
Rental Property #3
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $110,000
Cash invested: $1,369
Acquired this deal from another agent, off-market. I asked for a $5,000 concession & used my realtor commission of 3% to cover closing costs. Closed with $1,369 at the closing table. Rehab is $22K and the ARV is $196,000. Expected rent is $1750. I used Avalon Capital's 100% purchase & 100% Rehab hard money loan to close the deal in 9 days!
What made you interested in investing in this type of deal?
This was a great off market deal I couldn't pass up! Great BRRRR deal!
How did you find this deal and how did you negotiate it?
Acquired this deal from another agent, off-market. The seller was asking $105K so I offered $110K to get $5,000 towards closing costs.
How did you finance this deal?
I used Avalon Capital's 100% purchase & 100% Rehab hard money loan to close the deal in 9 days!
How did you add value to the deal?
Rehab starts Monday, Scope of work is $22K
What was the outcome?
Great buy!
Lessons learned? Challenges?
Coming soon! I am sure I will learn something!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Jordan Ray at eXp Realty is a great agent and landed me this amazing deal! (Talking about myself in 3rd person) haha!
- Jordan Ray
- [email protected]
- 662-642-1458
