Rental Property in Lorain Ohio

[Ken Webber]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $65,000
Cash invested: $72,500

Single family property in Lorain Ohio

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

I was able to connect with an elderly woman who was liquidating her real estate portfolio. She sold me the property for $65,000 cash, I renovated the bathroom for another $7,500.

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

Family Member Referral - She offered $70,000. I countered with $65,000 cash, no financing.

How did you finance this deal?

Cash deal

How did you add value to the deal?

Renovated the bathroom for $7,500

What was the outcome?

Property is now cash flowing for $1,200 per month

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

Off Market Deal