Turnkey Quad Cities Property - Davenport

[Eric Reed]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $105,000
Cash invested: $25,000

First property picked up in May 2018. 3 bed, 1 bath single family bought through Easy Street Props via Fortune Builders. Currently cash flowing approximately $275/month and rented through February 2019. COCR 13%

Looking for more deals to fix and flip, buy and hold or both in Houston, Minneapolis, or elsewhere.

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

Needed a quick turnkey property to get us started with a low cost to enter.

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

Fortune Builders

How did you finance this deal?

Conventional with just over 20% down.

How did you add value to the deal?

Bought the property with a renter already inside - immediately cash flowed!

What was the outcome?

Holding for the foreseeable future and looking for new deals.

Lessons learned? Challenges?

Need to find private money to keep going.