50K Single Family

[Franklin Barnes]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $50,000
Cash invested: $4,865

2 Bedroom, 1 bath, unfinished basement, 2.5 car garage.

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

The house was a great price and in a great neighborhood. Great potential to have good cashflow after renovation.

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

My business partner found the house through his mail route. Seller was eager to sell and we negotiated to purchase the house as is with 5k below asking price.

How did you finance this deal?

Traditional Credit Union mortgage loan.