Zimmerman Town Home Rental

[Steven DeGreeff]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $115,000
Cash invested: $23,000

Spacious 3 bed, 2 bath twin home with updates throughout. There is room for everyone with finished living space on both levels! The upper-level features new LVP flooring, new appliances, and a new backsplash! LVT flooring in both bathrooms, and fresh paint throughout the lower level, as well as convenient in-unit washer and dryer. Enjoy beautiful weather on the deck, or in the private, fully fenced backyard with new rock landscaping.

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

This was the first home that I bought for myself to live in out of college. This home was very distressed and in need of a lot of work but the price was right and I was willing to do the work to fix it up with the idea of turning it to a rental down the road.

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

This was a pocket listing, the client wanted to have a smooth and easy transaction and didn't want to do any work to the unit to get it ready to sell. I offered her a resonable offer and she accepted it.

How did you finance this deal?

I used conventional financing

How did you add value to the deal?

I bought the home and continued to rent as I did work to the unit, I replaced all the flooring and pained the entire unit before moving in. While I lived there I made changes to the landscaping, new siding and new roof.

What was the outcome?

This is my best investment as it is a long term rental and cash flows about $1,000/month