Super home in highly sought after neighborhood

[Dennis O'Loughlin]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $96,000
Cash invested: $30,000

Updated 4 bed, 1 1/2 bath house on a corner lot in a HIGHLY desired neighborhood with a great school district. This house is right on the edge of town with farmland behind and a block away so not much neighborhood noise. Flooring, paint, roof, windows, and kitchen recently updated. Closing in a couple of weeks.

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

Location, location, location

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

Online and with our real estate agent

How did you finance this deal?

Through a mortgage broker we met through BP.

How did you add value to the deal?

Will be putting in our own appliances so we will be able to depreciate them

What was the outcome?

Easy process

Lessons learned? Challenges?

Don't do this around a holiday to help with stress and time.

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

Tonya Feller Agent in Decatur, IL. Jimmy Webber with Financial Leader for mortgage.