Single family investing

[Sean Mchugh]

Investment Info:

Single-family residence buy & hold investment in Somersworth.

Purchase price: $109,900
Cash invested: $21,000

Small 786 square ft one bedroom house on a dead end street. Many updates needed but in good enough condition for a fix 30 year conventional loan. The appraisal came back 139k as is. there .18 acre yard in the back with a detached garage. Looking to do many of the updates myself (no experience) with the floors and and walls. Bathroom and kitchen need a professional touch.

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

instinct, saw more upside than down

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

MLS, Gave the guy what he wanted, I started low, going back and forth, but with outside interest was growing I went under contract. I was trying to use the winter and taxes as leverage.

How did you finance this deal?

Conventional 30 year fix at 5.625%