Investment Info:

Single-family residence buy & hold investment.

Purchase price: $72,500
Cash invested: $45,000

SFH was on the market for 121 days and it looked the epicenter of where COVID 19 started. Seller was in financial distress so I wasn't able to get it for exactly what I wanted but overall a good deal.

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

It was down the street from my other rental and was on the market a long time for the market conditions when everything else was selling.

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

Found it on the MLS doing a search for properties that were on the market 90+ days. Place was a disaster but was only able to negotiate a few thousand because he was in foreclosure.

How did you finance this deal?

Lender financed with conventional lending and I put 25% down to lower the payment.

How did you add value to the deal?

Completely rehabbed the property interior and new roof.

What was the outcome?

Ended up with a 3/1 with an extended floor plan by converting the single car attached garage into living space.

Lessons learned? Challenges?

Don't go with cheap constractors. Pay the extra money for people with experience

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

Just myself