Accountant · Oxford, MS · Member since 2018 · 10 posts · 6 votes
Investment Info:
Single-family residence buy & hold investment in Tupelo.
Purchase price: $33,500 Cash invested: $5,500
Bought an estate sale 1bd/1ba house. Converted the house into 2bd/1ba. Renting for $750.
What made you interested in investing in this type of deal?
SFH that had enough square feet to convert into 2 bd/1ba
How did you find this deal and how did you negotiate it?
My realtor had another investor trying to buy it from an estate sale. The estate lawyer was dragging his feet. The investor lost interest and moved on. She presented it to me, and I just right in. There were no negotiations because this was a hot property.
How did you finance this deal?
Commercial loan with bank
How did you add value to the deal?
Did most of the work myself on the weekends. Enclosed a porch into another bedroom.