First Medium Term Rental

[Macen DiPaolo]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $144,333
Cash invested: $18,000

Medium Term Rental Utilizing Creative Finance

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

Low upfront cost, proximity to city and partnerships.

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

Partner found the deal from Zillow For Sale By Owner(FSBO).

How did you finance this deal?

Seller Financing, Subject-To and Private Money Lender

How did you add value to the deal?

Furnished and Minor Updates

What was the outcome?

$450/month in Cashflow with one door my partner and I can hand down to whoever wants to run the business once we pass.

Lessons learned? Challenges?

Learned that the best and leanest way to start in single family RE without any money is to buy using creative method. Challenges thus far have not mention worthy. One text message and problems get addressed.

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

I'm an agent myself, however, I will say the network met via Pace Morby's Sub-to group helped us a lot with documents required for the creative approach.