Updated almost 5 years ago on . Most recent reply
My first out of state rental!
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $68,000
Cash invested: $21,000
2bd/1bth
purchased off MLS
5K rehab needed, negotiated for the seller to pay for it at closing.
What made you interested in investing in this type of deal?
It was a straight forward "classic" buy & hold deal. Perfect for getting my feet wet.
How did you find this deal and how did you negotiate it?
MLS. The inspection came back with some damage to the roof. Seller agreed to cut me a check at closing for the amount that my contractor bid the repairs at.
How did you finance this deal?
Conventional 30-year fixed loan.
How did you add value to the deal?
N/A. Not a value-add deal. The next one will be :)
What was the outcome?
A cash-flowing rental property, many new connections made, and lots of courage to take on more deals and expand my portfolio.
Most Popular Reply
@Alexi Schreier Hey man congrats! Well done! Greater Cincinnati is a fantastic market. Hope it continues to treat you well.