2/1 900 Square foot home purchased in Jacksonville, FL

[Basit Siddiqi]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $55,000
Cash invested: $55,000

This is a 2/1 900 square foot house in Jacksonville, FL

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

This is an on-market property that I found on Zillow. The seller agent was asking for $75,000 and I made an offer for $55,000.
The seller agent accepted.

How did you finance this deal?

This was an all-cash purchase.

How did you add value to the deal?

I will need to make renovations to the property before we can list it for rent. I expect the property to need about $20,000 - $25,000 in renovations and it will be able to be rented for $1,000 to $1,100.

What was the outcome?

I will find out!