Single Family Home to help drive other investments

[Lyle Quillin]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $76,500
Cash invested: $22,000

SFH in a solid neighborhood. Town's economy primarily is supported by the local military base which in this case means not a whole lot of growth but long term stability.

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

I wanted an investment that I could own outright and take out a HELOC. This gives us monthly cash flow and available capital when we find our next deal.

How did you finance this deal?

Cash

How did you add value to the deal?

New tile flooring, carpet, baseboards, granite, paint, bathrooms, doors

What was the outcome?

Tenents paying $1100 and opening up a heloc soon