First property in our new venture.

[Jases Brown]

Investment Info:

Single-family residence buy & hold investment in Bowie.

Purchase price: $45,000
Cash invested: $12,000

This is a 2BR/1.5Bath house on a corner lot. 940SqFt.

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

My wife and I were looking for an entry level house that wouldn't break us if it didn't work out.

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

One of my IT clients is a real estate investor. He is starting to liquidate his inventory. He was asking $52k for a home that would be worth $60k fixed up. We offered him $45K and he accepted.

How did you finance this deal?

7 year bank loan.

How did you add value to the deal?

Cosmetic renovation inside. Paint, flooring and new vanities.

What was the outcome?

I have a tenant paying $700/month.