Rental Property #2

[Jordan Ray]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $107,000
Cash invested: $7,932
Sale price: $107,000

$107K Purchase price. $28K Rehab. $175K ARV. Rent $1550/month (Projected) Used Avalon Capital's 100% purchase & 100% rehab hard money loan. Used the 3% realtor commission as a credit towards my closing costs. Total closing costs including earnest money was $7,932. Will refinance at 80% LTV. Image is a photoshopped version of what I expect the house to look like when finished.

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

I really like this area for rentals. Its close to home.

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

Was making a verbal for a client. He didn't want it and I had a verbal from the listing agent saying seller would accept my offer. Numbers worked for me on a buy & hold.

How did you finance this deal?

Avalon Capital's 100% purchase & 100% rehab hard money loan. Used the 3% realtor commission as a credit towards my closing costs. Total closing costs including earnest money was $7,932.

How did you add value to the deal?

I will be putting in $28K of rehab to this property.

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

I am the agent and used my commission as a closing costs credit instead of paying taxes on my commission I invested it.