FB marketplace turnkey deal in Fayetteville, NC

[Blair Nye]

Investment Info:

Single-family residence buy & hold investment in Fayetteville.

Purchase price: $80,000
Cash invested: $22,821

Contributors:
Mark Horton II

Long distance FB Marketplace Turn Key SFR in Fayetteville, NC

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

This was a Facebook marketplace deal. The owner wanted $95K. We offered $70K cash. They politely declined our offer but we stayed in touch by reaching out to them weekly.

How did you finance this deal?

We ended up purchasing it for $80K using a 20% down loan.

What was the outcome?

The home appraised for $94K so we realized $14K of instant equity!

Ending numbers:
Cash invested: $22,821
Monthly rent: $975
Cash flow: $353
Cash on Cash Return: 18.6%

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

We had the help of a couple of great agents at Five Pillars Realty (Kamil Baldyga & Mark Horton) and Karen Dulmage of Main Street Home Loans.