My Birmingham Beauty- First Turnkey- PICS

[Rollan Dizon]

Good afternoon BP Fam-

After immersing myself with rich content the past 2 months at Bigger Pockets, and the endless streams of podcasts; I have my first turnkey rental real estate success story to share.  I contracted this fixer upper back on May 17, and we closed today 7/1. Here are the numbers:

1. Purchase Price $114,000, with closing costs, all in around $119K

2. 1 yr Lease secured (tenants moved in) $1325/month, 10% more than my target rent.  Location and quality of the rehab played a big role in getting a tenant so quickly; tenant signed the 1 year lease even before the property was finished.

3. My independent home inspection was very clean.  I should not have any major capex issues the next few years, but will be banking all of the cashflow just in case.

Here she is: