Sharon Hill Rental Property

[Dan Powers]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $110,000
Cash invested: $15,000

This property was occupied delivered vacant so everything was in good shape as is. This 3/1 needed a quick cosmetic rehab and my investor is doing exactly that to make this a great cash flowing rental property.

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

What made my investor interested in this property was actually he lives in the neighborhood of this house. Once the property became officially released (I was able to get details ahead of it being released) he was able to scoop up the house instantly and was happy he was going to be improving his neighborhood.

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

This deal was sourced through New Western Acquisitions and was purchased on a first come first serve basis.

How did you finance this deal?

This deal was purchased using Sherman Bridge Lending, my investor was able to get 85% of purchase and 100% of rehab financed at 10% interest and 2 points.

How did you add value to the deal?

Value was going to be added to the property by redoing the kitchen and bath, as well as a fresh coat of paint throughout.

What was the outcome?

The outcome is going to be a clean rental property bringing in $1500/month

Lessons learned? Challenges?

This property was very straight forward, no issues in closing, no title problems, how I wish every deal of mine would go haha.

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

Dan Powers - New Western Acquisitions