Buy and hold #4 - Chicago

[Angie Taggart]

Investment Info:

Single-family residence buy & hold investment in Chicago.

Purchase price: $61,000
Cash invested: $1

Purchase: $61,000 (plus $40,000 construction loan) using private money
Rehab: $25,000
Refi:$ $101,000 (rate and term)
ARV: $160,000
Rent: $1425
Property management: $114
NOI: $1,183
Principal + Interest: $601.24
Cash-flow: $468

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

Cash-flow

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

MLS

How did you finance this deal?

Private money

How did you add value to the deal?

Cosmetic rehab

What was the outcome?

Tenants signed a 2 year lease for $1425 a month.

Lessons learned? Challenges?

Replacing sidewalks can very expensive!