Buy and Hold Investment

[Shaun Hood]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $165,000
Cash invested: $36,000

We bought this property off the MLS. The seller was in contract multiple times with previous buyers and the buyers all walked. This property cash flows over $400/month, and has appreciated about $100K+ since we purchased it.

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

Long-term wealth

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

The seller was in contract multiple times with previous buyers and the buyers all walked. The house was structurally sound, but the mechanicals were very dated and the property needed a minor facelift ($7K). We were able to purchase the house for a very good price because the seller was getting desperate and they were in contract on another home to purchase. The sellers needed to sell in order to buy their new home. We were able to leverage that into a great deal.

How did you finance this deal?

Conventional financing

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

I am a realtor in Columbus.