FSBO SFR Rental

[Christopher Berra]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $40,000
Cash invested: $45,000

I found an investor that was finished with real estate and had only a few properties to sell. I happened to call at the right time and he sold me this property at a fair price AND allowed me to place a tenant in the property prior to closing.

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

Turnkey purchase for about 75% of ARV. Solid home with low maintenance.

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

FSBO. Driving for dollars.

How did you finance this deal?

Cash

How did you add value to the deal?

Rented it for a few years then slowly started making updates to increase rent.

Lessons learned? Challenges?

Don't wait to buy real estate, buy real estate and wait.

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

I'm a Property Manager and Realtor.