Buy and hold /Longterm hold.

[Ekundayo Olomo]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $320,000
Cash invested: $106,300

Long-term rental / buy and hold for future appreciation

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

This area is growing and the outlook for long-term appreciation is excellent!

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

I found this deal on the MLS once it came back to the market

How did you finance this deal?

I utilized a Non-QM product / DCSR loan (debt-service-coverage-ratio)

How did you add value to the deal?

I painted the interior from the ceiling to run boards and performed a deep clean.

Lessons learned? Challenges?

The seller was a relocation. Working as the repressive for my LLC, I found relocation companies have a lot of paperwork and document requirements. These closings also typically take longer than usual as sellers often move out of state and have to find a home to purchase before closing.