Buy & hold package single family homes

[Jose Armando Haro]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $28,000
Cash invested: $28,000

1. Single family 2bd 1bath home in ferguson 28k
2. Single family 2 bd 1 bath home in bel-ridge 28K
3. Single family 2 bed 1 bath home in West florissant

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

Cash flow & building investment portfolio

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

A local realtor brought me this 5 property investment sale 124,900.00, after close review I decided to make a offer of 75,900.00 for 3 of the 5 they countered 82,500 with 3000k credit closed for 79,500 with NOI 12780. & CAP 16.08. Win Win

How did you finance this deal?

Purchased during COVID applied and received SBA Loan for 150K @ 3.75% 30 Years

How did you add value to the deal?

I started with first home that was vacant first and rehabbed and upgraded appliances. Applied for Sec 8 approval & accepted rent value 850.00

What was the outcome?

We located a wonderful renter who was sec 8 approved and set her up on a yearly lease @ 850.00

Lessons learned? Challenges?

Biggest lesson learned from this purchase having feet on the ground and or having your team in place is very beneficial if repairs a rehab is needed but don’t let that be the reason you do not pull the trigger getting your feet wet is the way you learn but build your team is second

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

Cj Realty property management
Tammy Derrigan @ Realty exchange web.com
Ted Greenberg @ miltifamilystl.com