Off market Turnkey property in Toney AL

[Gorden Lopes]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $160,000
Cash invested: $160,000

A straight forward off market turnkey property in Toney, AL. Bought for all cash for 160K from a wholesaler with and ARV of around 190k and got it rented for 1500.

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

My PM lived very close to the area and was super confident of renting this one out quickly plus the house was in super great condition.

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

Off market, through a wholesaler. The wholesaler got it for 157k and he assigned it to me for a fee of 3k.

How did you finance this deal?

I paid all cash.

How did you add value to the deal?

Not much, the only value add was to able to close quickly with cash.

What was the outcome?

I have got it rented for 1500 per month and I am confident that this will appraise for 190K at the very least. Will cash out refi after the seasoning period is over.