Investment Info:

Single-family residence buy & hold investment.

Purchase price: $474,900
Cash invested: $474,900

My California client purchased the home with 1031 Exchange funds and some cash. He hired a local property manager I recommended and is using the home as an annual rental.

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

My client sold a property in CA and wanted to re-invest his proceeds in Cape Coral.

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

I found it for my buyer on the MLS and negotiated the purchase price and repairs.

How did you finance this deal?

1031 Exchange proceeds and some cash.

How did you add value to the deal?

I negotiated repairs discovered during the home inspection that the seller completed prior to closing. The property manager did some minor repairs and clean up.

What was the outcome?

The home was rented out to an annual tenant.

Lessons learned? Challenges?

The biggest challenge for me personally was finding a great home in a great area for my buyer/client and putting it under contract in a very competitive seller's market.

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

Troy Thornhill, Owner, Healthy Home Inspections