Hagerstown rental house

[James Herbold]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $42,500
Cash invested: $42,500

Half of a duplex 2 Bed 1 Bath 800sq ft home.

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

Wanted to start my protfolio and this needed just a little bit of work.

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

A mentor got this from a wholesaler and it was to small for him to buy.

How did you finance this deal?

Hard money loan then refinanced my primary residence to pay off the hard money Loan.

How did you add value to the deal?

Bought it under market value from a wholesaler

What was the outcome?

Currently renting the property

Lessons learned? Challenges?

Not much in the deal and I want to use the equity to purchase more properties but going through divorce.