Investment in Kankakee IL
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $140,000
Cash invested: $140,000
Here are the pictures:
https://www.redfin.com/IL/Kankakee/880-S-Foley-Ave-60901/home/63247747
What made you interested in investing in this type of deal?
My brother needed a place to live near where he was working.
How did you find this deal and how did you negotiate it?
He worked with a local realtor, and we negotiated the sale price.
How did you finance this deal?
Paid cash for the house.
How did you add value to the deal?
My brother remodeled the kitchen
What was the outcome?
The house appreciated and I made a 6% net cash flow on the investment.
Lessons learned? Challenges?
Win-win, my brother got a place to live, and I got a good ROI on my investment.