SFR 3 bed 1.5 bath in a new market for me

[Steve Mason]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $62,000
Cash invested: $6,150

3 Bed 1.5 bath, 1400 sf, needed cosmetic rehab, Appliances, flooring, paint, doors, hardware upgrade.

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

Met a Wholesaler, liked how she worked, and the products advertised, well below market. Will buy from her again.

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

Found it from a wholesaler. Asking price was good, considering what it needed, in a growing market that wasn't too far out of range yet.

How did you add value to the deal?

Rehabbing all cosmetics, hard money lender gave a fair deal on money.

What was the outcome?

Still in process, but should cash flow $300 month.

Lessons learned? Challenges?

Find your process. Repeat. Trust your gut (as long as numbers work)

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

No