Chatt Tn Investment

[Eric Cardwell]

Investment Info:

Single-family residence buy & hold investment in Chattanooga.

Purchase price: $156,000
Cash invested: $13,506

4 Bed 2 Bath in Glenwood Area of Chattanooga
Purchased with a partner

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

My wife and I did not have a lot of capital at the time and we partnered with a good friend, and were able to make a deal happen. Its not making us rich, but at the time it was a good path forward in our investing.

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

We found the deal though a local Realtor

How did you finance this deal?

We split the downpayment with the partner, and did a traditional 30 year with a bank

How did you add value to the deal?

This one was kind of a turn key deal, we did clean a lot and rebuild a falling railing on the front pouch and add some shutters, but that was about it.

What was the outcome?

We have good tenants in the house now and it is cash flowing

Lessons learned? Challenges?

We learned that you need to take a closer look at monthly cash flow and not appreciation.