4 bedroom 3 Bath Ranch. May redevelop

[Zac Hales]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $320,000

4 bedroom ranch we bought with cash out refi money!

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

3 full bathrooms is very hard to find. A half acre is a large enough lot to have a ton of options in the future.

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

Saw it sitting on our local MLS. I got 10k in credits at closing.

How did you finance this deal?

Conventional loan.

What was the outcome?

We did go up slightly on the tenant but have done only necessary repairs since closing. My plan is to let a development in the area take shape over the next few years then visit the idea of either a flip, or squash it and build 1 or 2 units in its place.