Sylacauga Alabama door # 5

[Alex Deal]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $63,000
Cash invested: $13,000

Bought two 3BR/1BA Side by side. Both needed new AC Units and some cosmetic rehab. PITI is @445 rent for $850

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

I bought a 4 plex in 2021 in this town which is about an hour from where I live.

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

These two properties were owed by my handyman.

How did you finance this deal?

Conventional

How did you add value to the deal?

Rehab, clean up, new AC/HEAT Units.

What was the outcome?

It was renting for $625 when I purchased. After rehab, it should rent for $850-900.

Lessons learned? Challenges?

I think i could have gotten for a little less.

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

I am a real estate agent.