Details on my 2nd SFR Deal

[Benjamin Rogers]

House: 884 sq ft, 3 bed, 1 bath

Location: Birmingham, AL

Source: online auction site

Purchase price: $35,750

Rehab: $2,882

Property Mgmt: 10%

Rent: $850/month

This was my second rental property acquired in 2017. It was very well-maintained by the previous tenant, who died in the house. My only frustration was the length of time (roughly 2 months) it took for the PM to perform basic repairs on the place and get it rented. I eventually realized that they listed the property without pictures, which likely would have made a difference as this is one of the cleaner houses on the street. My failure to manage the manager. Overall, though, I'm quite pleased with this deal. Wish I could find several more like it!

[Brian Garrett]

Congrats it's good to see the 2% rule still exists in some markets! Those numbers are great.

Sure wish I could find deals like that around here where it's already hard enough to try and find the 1% rule.

[Travis Glenn]

Dang! Hell of a steal. I’m surprised a house that small would rent for that much. Kudos!

[Benjamin Rogers]

Thanks, Brian and Travis. Unfortunately, I've not been able to replicate these numbers despite bidding on dozens of properties on the same site. The bank must have just wanted to get this property off their books