Portfolio Of Homes and Wanting to Learn

[Alan Johnson]

Investment Info:

Single-family residence buy & hold investment in Atlanta.

Purchase price: $240,000
Cash invested: $80,000

Portfolio of 7 homes. Sold 2 Homes. Plan on holding on to the other 5 to rent out. Although struggling in this area of the city to retain respectable and renters that pay on time or pay at all.

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

An Opportunity came about and the numbers made sense.

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

A friend of mine brought it to me and it was already at a flat price.

How did you finance this deal?

I borrowed the loan through a small bank after showing them the cashflow numbers.

How did you add value to the deal?

I was new to this and willing to learn. I had the money for down payment and hopeful to help others in this area of the City.

What was the outcome?

It has been bumpy. The sale of the two homes that I have sold went very well and pretty straightforward. This allowing the finances to update and improve the condition of the other 5 homes.

Lessons learned? Challenges?

Challenges are that after renovations and improvements, very well vetted tenants. Still end up not paying on time or paying at all, thus having to go through contant evictions.