Unique strategy... seeking military tenants

[Matthew Feeman]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $180,000
Cash invested: $45,000

Single-family ranch-style home minutes from nearby Air Force base. Hoping to attract military tenants for long-term leases.

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

Proximity to the base, off-market acquisition during '22 peak

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

Friend of mine was selling, acquired directly without a RE agent. Since I knew the area and had access to the comps through my lending practice; I was able to offer a fair price directly to the seller.

How did you finance this deal?

Traditional FNMA investment mortgage, 25% down. I did do a 15-year amort to save on sky-rocketing interest

How did you add value to the deal?

Didn't... it was turn-key.

What was the outcome?

Dunno yet... seller is still renting back until 30 June. I need to find new tenants (self-managing)