SFR in Mature Neighborhood

[Christopher Reeder]

Investment Info:

Single-family residence buy & hold investment in Winter Haven.

Purchase price: $68,000

3/2 block home in a mature, rent-friendly neighborhood.

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

I had not purchased a property in 2 years and still lacked the experience of BiggerPockets real estate investing. Having saved up enough cash to make the downpayment, I found this home which fit our criteria. The area this home was in is in a neighborhood that our last purchase occurred so our familiarity brought comfort to the rental aspect.

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

MLS. Market was getting more aggressive by 2015 in our area so the seller wasn't willing to negotiate much. We got a slight decrease in the original asking price, but the financials still made sense and we got it under contract.

What was the outcome?

Closed on property and bundled it with our other 3 for a refinance to gain capital for a new deal in the new year.