Alabama Rental Property
Investment Info:
Single-family residence buy & hold investment in Fort Mitchell.
Purchase price: $165,000
SFR 5 bed 4 bath
What made you interested in investing in this type of deal?
$50,000 in equity! Minor fix up cost of $10,000
How did you find this deal and how did you negotiate it?
Driving in the neighborhood. It was on the market for a while.
How did you finance this deal?
Conventional Loan
How did you add value to the deal?
Completely renovated interior; new flooring, paint & appliances.
What was the outcome?
Property was rented before it was on the market.
Lessons learned? Challenges?
Hard to find a good handyman to do work properly the first time.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, a real estate agent.