Buy and Hold 5552 Cabot Dr N

[Henry Paschall]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $115,000
Cash invested: $42,000

Purchased this property off market from my realtor. The owners were building a home in another state and moving so they didn't want to list the property and have to move immediately. I let them do rent back for 3 months before they moved into their new home.

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

The neighbor hood is not normally what I look for but it is an up and coming area near a military base. The numbers made sense.

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

Realtor brought it to me, he sold them the house a couple of years before. I did not negotiate I gave them what they wanted because it made sense.

How did you finance this deal?

Conventional Loan.

How did you add value to the deal?

Still in progress but they have moved out and I am updating the home now.

What was the outcome?

Once complete next month I will be able to rent this home out for aprox. 1300.00

Lessons learned? Challenges?

Contractors are hard to come by.

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

Derek at Prime South Bank and Furgus Reeves my realtor!