Kim St House

[Gregory Schwartz]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $110,000
Cash invested: $32,000

Investment Property Summary: 3-Bedroom, 1-Bath House with Garage
Location: Situated in a quiet neighborhood on a corner lot
Purchase Method: Acquired through direct negotiations with the seller, utilizing a cash offer
Financing: Secured a private loan from family members to fund the purchase
Renovation: Complete cosmetic update replaces just about everything inside accept drywall. Invested personal funds for the property's rehabilitation
Rental Income: Successfully rented out the property to a family at $1,400 per month
Potential Value: Anticipating an After Repair Value (ARV) range of $160,000 to $175,000

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

We've been looking for more single family house investments to add to our portfolio. Base hits.

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

The seller called my office asking looking to sell.

How did you finance this deal?

Private money and out of pocket cash.

How did you add value to the deal?

We did a complete cosmetic update.

What was the outcome?

Great tenants paying $1,400 per month and an ARV of $160-175k

Lessons learned? Challenges?

Consistently following up with the seller helped us land this deal.