140 Thoroughbred Drive, Troutman, NC 28166

[Alfred Samuels]

Investment Info:

Single-family residence buy & hold investment in Troutman.

Purchase price: $180,000
Cash invested: $36,000

4 bedroom 2 bath rental home. Not ready for occupancy yet. Rented and now cash flowing $750.00 a month.

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

Our goal was to get some cashflow coming in.

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

We found this deal on MLS and we negotiated through our agent.

How did you finance this deal?

Conventional Mortgage

How did you add value to the deal?

We had to do about $12,500.00 worth of work to get it rent ready. We still have a gutted tiny house in the back we paln to start working on later in October.

What was the outcome?

The property is now rented and making a little cashflow.

Lessons learned? Challenges?

We negotiated some things in the contract that we did not get done prior to closing. This cost us. Since our mortgage company took a long time. The seller did not think we could close so our negotiated fixes prior to close did not happen. It took us 3plus months to close.

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

Not on this deal. It cost us because she was new.