New Property Locked Up

[Curt Davis]

Hello everyone,

I just wanted to share with you all the new investment property I just locked up yesterday. Here are the figures:

ARV $98,000-$106,000
Repairs $6,000
Purchased For $45,900
Average Rent Range $900 monthly

I was able to purchase this house with NO Money out of my pocket. I am using a hard money lender to make this possible. The market here in Memphis is still amazing.

[Curt Davis]

@Adrian Chu

Thanks for digging this old post up.  I will be happy to elaborate:

I still own the home.  I am on my 3rd set of tenants on the home. It has always rented in the $950-$975 range.  I purchased this home using a hard money to refi program. 

Home is still worth around $100k, I owe $59,000 on it. Current rent is $975. My PITI is $556.00 and my monthly mgnt is $78.00 so I make about $341.00 gross each month. Not bad for a zero down deal! It was my 3rd ever purchase and today I own about 20 homes.

Thanks again!!!