Quick Turn on a Rental in Louisville, KY

[Brad Noe]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $260,000
Cash invested: $10,000

Purchased from a friend of a friend that was looking for a quick sale. Great area of town close to Bellarmine University. Converted office to a 3rd bedroom, cleaned it up and painted!

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

Great area of town

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

Friend of ours referred us to this homeowner who was looking for a quick sale because they were moving out of town and did not want to deal with showings and moving everything out of their house for the sale.

How did you finance this deal?

Purchased with a 30-year conventional loan. Paid for renovations out of pocket.

How did you add value to the deal?

Converted office to a 3rd bedroom. Cleaned it up and painted the walls.

What was the outcome?

Got a great tenant that was moving from out-of-state, looking for a higher-end place like this to rent while they got to know the area.

Lessons learned? Challenges?

Smoothest deal we have ever done, from start to finish! No real issues.