Buy and Hold Single Family Investment in Rocky River

[Jacob Gable]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $195,000
Cash invested: $54,156

Buy and hold single family home with a 4 Car Garage.

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

I found the home as a for sale by owner by owner and it had a four car garage in a great location with a large lot.

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

I negotiated the FSBO and was able to even secure a commission.

How did you finance this deal?

Conventional Financing

How did you add value to the deal?

I rented out 3 of the four garages and the first year was able to rent it without doing any work.

What was the outcome?

I ended up renovating the home completely and was able to increase rent and secure another 2 year tenant with three garages rented.

Lessons learned? Challenges?

I learned that not all for sale by owners are hard to work with. The one challange is maintaining the exterior, of the home being so close to a school it gets beat up.

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

I was the agent for the deal.