BUY AND HOLD

[Ken Warner]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $45,000
Cash invested: $30,000

Older 1960s Home complete remodeled. appraised at 144k when finished.

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

The purchase price was right and the home next door just sold for 148k. This was the worst house on the block surrounded by other homes that had been remodeled and brought up to date.

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

An acquaintance had bought it years ago and could not keep up with the maintenance. She had purchased another home and rented this one out to her son. After an while he moved in with her in the new home and she could not afford both

How did you finance this deal?

Used equity in another rental property

How did you add value to the deal?

Complete renovation and update.

What was the outcome?

Very pleased with the outcome

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

I was the agent on this deal.