Drop the gavel, this one is sold!

[John Sirovatka]

Investment Info:

Single-family residence buy & hold investment in Bloomington.

Purchase price: $27,000
Cash invested: $25,000

SFR rental purchased at auction. 3/2 needed some work to get back on the market.

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

Low purchase price, favorable rental market

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

On line auction.

How did you finance this deal?

Cash.

How did you add value to the deal?

New kitchen, roof, floor coverings and paint.

What was the outcome?

Still working this deal. Expect to have it rented early spring ‘19

Lessons learned? Challenges?

Lessons learned? Get out of my own way. Suck it up Buttercup- get out there and make offers. The challenge was to push through the fear of the unknown in auctions as this was our first auction.