REO rehab property turned in a cash flowing asset.

[Micah Casey]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $330,000
Cash invested: $20,000

Our 1st single family home purchase was a REO. We lived in it for 5 years while rehabbing then turned it into a significant cash flow property with over $7000/mo.

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

We always wanted to invest in real estate.

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

We found it on the MLS. Not much negotiations needed.

How did you finance this deal?

Cheap FHA loan

How did you add value to the deal?

Did a full rehab through out and turned a 3bed 1 bath into a 2bed 1bath and 1bed on bath.

What was the outcome?

It now cash flows $7000/mo

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

We used a local real-estate agent for this purchase.