Single Family Buy and hold

[Levi Flowers]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $43,000
Cash invested: $20,000

4 BR single family unit

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

It was an abandoned house across from a friends house, I contacted the owners and got the home a month later.

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

I used the auditor website to contact owner. He wanted $50k and we settled at $43k.

How did you finance this deal?

Bank

How did you add value to the deal?

Gutted entire house, added drywall, windows, flooring, new kitchen, added a bathroom and re did the old one as well as tear down a few walls and a closet to make it bigger.

What was the outcome?

We lived in it for a couple years and is currently rented

Lessons learned? Challenges?

If you want something done right, you have to do it yourself. Especially on the budget I was on at the time.

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

Raya Hardy