Fort Pierce- Super Buy

[Paige Kovari]

Investment Info:

Single-family residence buy & hold investment in Fort Pierce.

4/2 cbs property, with a non paying tenant and an old roof. Couldn't get insurance to finance. The seller was so sick of the tenant and the situation I picked up the property for $130K... We knew it would take outside effort to get it profitable but the bones and price made it worth it. Seller replaced the roof after inspection. Tenant was evicted and we now pull 2K a month on this property.

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

It was a unique situation that stacked the deck in my favor

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

On the MLS, and strategically we did not go in wild asking for everything up front. We let a third party tell the tale.

How did you finance this deal?

Conventional.

How did you add value to the deal?

I build portfolios for investors, every deal has a different strategy so we dont miss out with a cookie cutter approach.

What was the outcome?

Purchased and cash flowing

Lessons learned? Challenges?

After eviction we had to do about 35K in repairs and renovations.

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

I work with myself because i build portfolios full time, but I would never use an agent that didn't have first hand experience advice for you. Anyone can have a real estates license, make sure you get the most value with an honest transparent agent that has bought, sold and managed tenant occupied properties. You want someone that will pull you from a deal if they see a big red flag and not intentionally leave you with a problem.