When the plan isn't the plan anymore, be prepared to pivot

[David Garner]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $22,000

Another buy/hold long term rental. We originally intended this to be a rent to own property, but the house/street/value is more suited to a long-term rental strategy... so that's what we did!

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

On paper, this deal fit our buy box for our affordable housing program, but in the end we rehabbed and listed as a long-term rental with a long term hold in mind.

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

MLS - lowball offer

How did you finance this deal?

100% funding with a passive investor through our private lending program

How did you add value to the deal?

Purchase discount and renovation

What was the outcome?

We had to pivot the plan and decided on a long term hold. We'll either pay off or refinance the private note at maturity and keep the house. The maintenance is low and the tenant is great.

Lessons learned? Challenges?

When the plan isn't the plan anymore, be prepared to pivot.