Updated about 5 years ago on . Most recent reply
3rd Home in 10 months!
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $300,000
Cash invested: $20,285
A woman from work told my wife and I that she was planning on moving out of state for a job and wanted to sell her home. She wanted hard money and was planning on not using a realtor. I quickly went to work looking for a hard money lender and was approved for $295k to purchase this house.
Ultimately we agreed on a purchase price of $300k for the home which resulted in having to come out of pocket for only $20k. We closed in May 2021. Currently we are in the process of refinancing, and comps for the area are about $425k. We are renting the home out for $2230/mo.
How did you find this deal and how did you negotiate it?
Off-market
How did you finance this deal?
Hard money
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Bryan and Lana Rodriguez (realtor)
