Deal Diary - SFH North of Baltimore 15% ROI

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Deal Diary - SFH North of Baltimore 15% ROI

S Michael Nathan
Rental Property Investor · Central MD · Member since 2019 · 4 posts · 1 vote

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $55,000
Cash invested: $15,000

SFH north of Baltimore

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

Passive Cash Flow (Rich Dad, Poor Dad)

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

Wholesaler. Negotiated directly with seller

How did you finance this deal?

Cash from HELOC on primary.

How did you add value to the deal?

Quality renovation. Overhauled kitchen, added decks.

What was the outcome?

Happy renters, positive cash flow. On track to pay of HELOC < 18 months

Lessons learned? Challenges?

Use a property manager!

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

Contractor Fred Ramirez and Property Manager Chris Westerlund. Have referred and continue to use both.

1Reply
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  • Patrick Reynolds
    Real Estate Agent · Washington, DC · Member since 2018 · 15 posts · 7 votes
    7y

    that is incredible! especially on pace to pay the HELOC off in less that 18 months! Did you use the HELOC to purchase the entire property, or as down payment and finance the rest?

    0Reply
  • Shadonna N.
    Developer · . · Member since 2014 · 520 posts · 162 votes
    7y

    Congrats.  Between purchase price and cash invested where did you overhaul kitchen and add decks?

    0Reply
  • S Michael Nathan
    OP
    Rental Property Investor · Central MD · Member since 2019 · 4 posts · 1 vote
    7y

    @Patrick Reynolds - Thanks! Heloc was used to purchase the entire property. I've starting using profits from other units to accelerate paydown with the plan to recycle into a new deal when another good opp comes up. 

    @Shadonna N - from the $15k cash investment, Kitchen was $10k, larger deck $2500 smaller deck/patio $1500. 

    0Reply
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