Turnkey with built in equity just closed in Saint Joseph, MO

[Krista Moulds]

Investment Info:

Single-family residence buy & hold investment in Saint Joseph.

Purchase price: $118,000
Cash invested: $17,900

Just purchased this cute, single family, 3/1 with a 4 car carport parking on a corner lot with a full, unfinished, walkout basement. In a B class neighborhood. The home recently has newer vinyl siding, kitchen flooring, refinished countertops, new garbage disposal and new furnace.

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

I built a relationship with a company that helps connect out of state investors with deals that meet their needs. I was looking for a rent ready property that needed some love, and really trusted and liked the provider. The property fit my criteria and the numbers worked for me.

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

I found it through an inbound email from a local real estate investment provider in this market.

How did you finance this deal?

Traditional loan, 15% down

Lessons learned? Challenges?

When something comes across your inbox that piques your interest, explore it to the fullest and do all of your homework and due diligence fast, so you can make a decision quickly.

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

I worked with a wonderful investment company in Missouri that helps out of state investors. I would highly recommend.