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Updated almost 2 years ago on .
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Speculation investment in great area in Nashville
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $605,000
Cash invested: $191,000
Investment was made using 1031 exchange funds from 2 previous flips. I put $20,000 in to convert a bonus room to a master suite in order to get a 3 bedroom rental. Strategy is to hold it as rental, and either sell to developer/contractor or develop myself when the market picks up in 2024-2025.
What made you interested in investing in this type of deal?
Speculative value of a full 1 acre property in a great area of Nashville.
How did you find this deal and how did you negotiate it?
MLS. The list price was $790K and I negotiated way down with a seller who was moving out of country.
How did you finance this deal?
1031 Exhange funds, and a commercial loan for remainder.
How did you add value to the deal?
Added a master suite in a bonus room that was begging to be made into a master!
What was the outcome?
Property cash flows, and will provide for a good speculative investment in a highly regarded area in Nashville.