Buying SFRs at a discount in the Bay Area

[Solomon Oh]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $331,717
Cash invested: $39,000

A single family home that we found in the bay area through a relationship we had with an agent.
The house had tenants that were not paying rent so the owner decided to sell the property rather than work through the challenges.

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

The immediate equity realized through the purchase as well as the cost to own it being next to nothing.

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

My partner and I found this deal through a relationship with an agent.

How did you finance this deal?

A portfolio loan through Kiavi.

How did you add value to the deal?

We haven't yet, still working on the remodel/renovation of the property.

What was the outcome?

Own a house with a great equity position and doesn't cost us to much to keep.