"Wild and Wonderful" - Single-family Student Rental
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $90,000
Cash invested: $7,000
Purchased the property for a $2,000 downpayment using creative financing then put in $5,000 more of my own money on fix up.
Details: 4BR 2BA - 1345 Sqft
Rents for $2000 month + utilities
Expenses are around $1,000 per month, depending on cap-ex
CoC: 170.87%
Current Cap-rate: 20.01%
ROI: 225.57%
Cashflow: $11,961
What made you interested in investing in this type of deal?
LOW prices and HIGH rents
How did you find this deal and how did you negotiate it?
Found it on Zillow, negotiated it by making lowball offers and negotiating further after an inspection.
How did you finance this deal?
BRRRR
Purchased w/hard money where I was charged 3 points (which is a considerable discount) + 800 service fee and tied in closing costs into the loan.
Lessons learned? Challenges?
ALWAYS GET MULTIPLE BIDS
