Single Family 3/2/2 Rental Purchase In Cape Coral, FL

[John Thedford]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $70,000
Cash invested: $70,000
Sale price: $70,000

Single family 3/2/2 in Cape Coral, FL

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

This seller contacted me wanting to borrow money. I was unable to help them due to the small amount of money they wanted. Also, the owners were split up and no longer living in the house. Last but not least, there was a divorce pending and the judge had ordered the house sold. It has about 12K of deferred maintenance that I had to cure after purchase.

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

Sellers contacted me through an ad on CL.

How did you finance this deal?

I paid cash.

How did you add value to the deal?

I did about 12K worth of rehab and then leased it out.

What was the outcome?

It is presently leased to the original tenants since 2014.