Learning curve the hard way

[John Frala]

Investment Info:

Single-family residence buy & hold investment in Kokomo.

Purchase price: $305,000
Cash invested: $38,000

First deal and learned a lot on this one

What made you interested in investing in this type of deal?

Looking for investment to hedge retirement

How did you find this deal and how did you negotiate it?

Realtor friend

How did you finance this deal?

Private money

How did you add value to the deal?

Up Dated property

What was the outcome?

Complete make over including rotted clay pipe to street. Now have top rental in area.

Lessons learned? Challenges?

Be careful who makes you promises, especially out of state where I have no control.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Property management company questionable.