Single Family Home - Rental - Allendale, MI

[Rachel DeJonge]

Investment Info:

Single-family residence other investment.

Purchase price: $38,000
Cash invested: $7,000
Sale price: $53,000

Old Farm house with barn & 1 acre of land.

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

Rental property for bother-in-law who didn't have a place to live.

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

We lived across the street. Owner died, bother came over and asked if we wanted to buy it before putting it on the market.

How did you finance this deal?

Paid Cash.

How did you add value to the deal?

New Roof, new carpet through out.

Lessons learned? Challenges?

Don't rent to family.