Single Family 3/2/2 Rental Purchase In Cape Coral, FL

[John Thedford]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $60,000
Cash invested: $60,000
Sale price: $60,000

Single family 3/2/2/ house in Cape Coral. I had loaned money on this property. Seller decided they wanted out and asked me if I wished to purchase it. The property makes a great rental and I have had the same tenant in there since 2012.

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

I was approached by the owner wanting to sell it. The owner and I had an established relationship.

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

I knew the owner. They had a HML from me and decided they wanted to sell and approached me first.

How did you finance this deal?

I paid cash.

How did you add value to the deal?

I gave the owner a contract within 24 hours of them contacting me. I could have assigned the contract for a profit but opted to complete the purchase and hold it as a rental.

What was the outcome?

I have had the same tenant in the property almost seven years. The tenant has been spectacular and this one comes as close to auto-pilot as possible.