1st Midterm Rental

[Lamont A.]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $38,000
Cash invested: $48,000

Single family,
Home in an older established neighborhood needing complete updating.

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

For this deal the cost and proximity to local hospital, and colleges

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

Found it on the MLS

How did you finance this deal?

All cash purchased

How did you add value to the deal?

Sweat equity is the best way to add value to the deal. If you have skills that can save you money, by all means invest the time.
other value was by creating a 5th room in the unit.

What was the outcome?

Newly renovated home that host traveling professionals and now student housing.

Lessons learned? Challenges?

Get to know your options for contractors in a new area.

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

Worked with the listing agent.