3 BR 2 BA Rental Home Purchase

[John Thedford]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $138,900

I purchased this house three days before foreclosure. Seller is a licensed agent. They knew me personally, were distressed, and wanted to sell before the foreclosure. I then leased it back to the owner for a year. It is presently leased for $1500 per month.

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

It was a good property for buy and hold in a hot rental market.

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

I knew the seller.

How did you finance this deal?

I paid mostly in cash and took a small 1st.

How did you add value to the deal?

I kept the seller from having a foreclosure on their credit.

What was the outcome?

It is presently leased.