Schuylkill Ave. Property

[Jon Simpson]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $18,500
Cash invested: $18,500

Bank owned purchase for $18500, closing and rehab $6500. All in 25K. Borrowed money from my own 401K. Paid it all back with in two years.

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

Found on MLS

How did you finance this deal?

Borrowered money from 401K

How did you add value to the deal?

Bathroom was redone, flooring and paint

What was the outcome?

two week rehab, tenant has been there ever since

Lessons learned? Challenges?

Need better contractors

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

Yes...Jamie Perez, Berks Realty Group