2/2 1/2 acre in Hope Mills ,NC

[Adriese Williams]

Investment Info:

Single-family residence buy & hold investment in Hope Mills.

Purchase price: $64,000
Cash invested: $36,000

2/2 on 1/2 acre, light rehab, will hold and rent, then refi. Got my brother to go in half with me.

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

I like the area, I own several rentals nearby

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

Online Auction, only bidder

How did you finance this deal?

My cash and partnered with my Brother

How did you add value to the deal?

Trash out, new flooring, paint,HVAC
May use extra land for RV rental or Truck parking

What was the outcome?

Will be ready to rent 11/1/22 looking at $1,200-1,300 per month

Lessons learned? Challenges?

None really, done this several times, 1st time investing with family

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

All cash, Becton law firm in Durham,NC to close it up.