Updated over 4 years ago on . Most recent reply
Darby Rental Package
Investment Info:
Single-family residence buy & hold investment in Darby.
Purchase price: $55,000
Cash invested: $5,000
This property was part of a package deal with another darby property right up the block bringing in a combined $1500 a month. These properties needed very little in terms of rehab, and the tenants were planning on staying with a slight rent increase.
What made you interested in investing in this type of deal?
What made my investor interested in this deal was the opportunity to pick up a cash-flowing, turnkey asset. With minimal work needed this was a no-brainer for a quick easy project.
How did you find this deal and how did you negotiate it?
This deal was sourced by New Western Acquisitions and was sold first come first serve at a total purchase price of 110k for both properties.
How did you finance this deal?
This deal was purchased in cash.
How did you add value to the deal?
The value being added with minor updates to the kitchen and bath.
What was the outcome?
The outcome will be a cash-flowing asset that will slowly appreciate over time.
Lessons learned? Challenges?
No challenges on this transaction.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Dan Powers - New Western Acquisitions