Harrisburg Cash Flow

[Richard Clark]

Investment Info:

Single-family residence buy & hold investment in Harrisburg.

Purchase price: $45,000
Sale price: $124,500

Purchased for cash for $45,000, renovated as Smart Home. Reno cost ~$25k, leased for $1300/mo (35% upside in market rent), Cash Flowed $1100/mo, and sold for $124,500. Cash-On-Cash Return: 18%

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

Low price, easy reno, and I owned others on the same block.

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

Neighbors knew me from other investments and suggested it. The owner of this unit asked me to buy it.
I was in the middle of another reno at the time and secured the purchase for what she had left on the mortgage. I deferred the cash out using an Installment Sales Agreement until the owner found a new place to live.

How did you finance this deal?

ISA and Cash (No Finance)