Buy and Hold SFR in Milwaukee with solid numbers
Investment Info:
Single-family residence buy & hold investment in Milwaukee.
Purchase price: $120,000
Cash invested: $30,000
Contributors:
Stuart Grazier
My third investment property with Storehouse 3:10 Ventures. It is a 2/1+, rented before we closed and at $1350/mo. I was able to secure a 3.25% mortgage. So grateful to be able to have such amazing cashflow.
What made you interested in investing in this type of deal?
Storehouse 3:10 is a solid turnkey company in the Milwaukee area that provides amazing rehabs with Smart Asset Realty as the go to in Property Management.
How did you find this deal and how did you negotiate it?
I have been on the list to purchase properties every time. I am able.
How did you finance this deal?
I used standard conventional loan, 25% down.
How did you add value to the deal?
As a turnkey I did not add any value.
What was the outcome?
PP was $120,000, Appraisal was $135,000. 1350/month rent.
Lessons learned? Challenges?
I continue to learn how amazing Storehouse is. Guaranteed Rate as my lender does an amazing job at streamlining the process and Smart Asset Realty keeps it looking amazing and finding qualified tenants.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I work with Robin Gevaart as the realtor. Storehouse 3:10 the turnkey company, Guaranteed Rate as the lender, Prism title as title, and Smart Asset Realty as the PM