New buy and hold in Alabaster, AL

[Matt Wallington]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $219,000
Cash invested: $132,000

- put 50% down and about another $16k in some cosmetic renovations
- monthly payment is $975, and rents for $1800/month

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

- found it on the mls

How did you finance this deal?

- 50% down, 50% bank financed

How did you add value to the deal?

- cosmetic rehab (floors, paint, light fixtures, etc.)