Second Investment Property

[Luke Schlabach]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $88,500
Cash invested: $22,000

Incredible Bungalow, corner lot in an amazing location. I got an incredible deal on this property, I've fixed a handful of items here and made a few repairs. Possibly looking to sell this fall.

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

I wanted to buy cash producing investments.

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

I talked to a local investor and found it off market.

How did you finance this deal?

Conventional loan.

How did you add value to the deal?

I cleaned it up, replaced gutters, put in runoffs, painted basement, replaced roof and shutters, repainted the inside.

What was the outcome?

Lots of equity added.

Lessons learned? Challenges?

Keep rent going up by adding value.

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

I am a realtor so I ran the numbers and worked the deal.