2nd Chatt Investment

[Eric Cardwell]

Investment Info:

Single-family residence buy & hold investment in Chattanooga.

Purchase price: $150,000
Cash invested: $40,000

3 Bed 2 Bath home in Bushtown Community, Not rented yet going through some minor renovations. Trying to be rent ready by Dec 1st

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

Was a solid turn key property, need a little love but we could get it rent ready in a few weeks.

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

though a local agent and we negotiated with the seller through their agents

How did you finance this deal?

Typical 20% down 30 year bank loan

How did you add value to the deal?

Did not really, was not the strategy with this one, we were trying to increase our monthly cash flow with out having to put a lot into a property that requited a lot of work

What was the outcome?

So far pretty good, our property management seems to think we will get our expected rent for the property.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

We worked with Hannah Legg and she was awesome, she is actually the one that turned us on to bigger pockets! She is also an investor and was HUGE resource for us.