Producing income property, Cleveland Ohio
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $60,000
Cash invested: $60,000
3/1.5 single family home in the Cleveland area. Newly rehabbed, purchased turnkey
What made you interested in investing in this type of deal?
We seek out invesments that show they will generate at least 10% ROI annually with a 5-year hold time. The ROI is not expected to be consistent, but average out over the hold period
How did you find this deal and how did you negotiate it?
Purchased though a private investor who buys tax certs on distressed properties, then rehabs
How did you finance this deal?
Cash!
What was the outcome?
Current tenant is producing the expected revenue
Lessons learned? Challenges?
More detailed inspections to determine extent of hidden issues
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am a Realtor