1.6% Probate Buy & Hold

[Aaron Rowzee]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $90,000

Probate property purchased at $80k but financed at $90k to cover all closing and repair costs. Property ARV $135k, all in at $90k with $45k in equity, and renting at around $1,500 which makes this a 1.6% deal. Rehab was completed end of Nov 2018 and is currently on the market to be rented. It is also being managed professionally. Its listed at $1,500/mo and I'm hoping to get it rented by the end of January once we're passed the holiday slump.

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

While I love wholesales and flips, my end goal is to have enough doors to sustain my household without any additional income.

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

I great investor-friendly broker I work with sourced this deal for me

How did you finance this deal?

Local credit union

How did you add value to the deal?

Basic rental rehab

What was the outcome?

Great property for a great price and no money out of pocket.

Lessons learned? Challenges?

Even in deals where there is no money out of pocket, you still need money in reserve to handle dead seasons, problems found behind walls, etc.