Buy and hold #2 - Bellwood

[Angie Taggart]

Investment Info:

Single-family residence buy & hold investment in Bellwood.

Purchase price: $96,500
Cash invested: $2,500

Purchase price: $96,500 (with extra for $29,500 construction loan) private money
Rehab: $32,000
Refi: $126,000
ARV: $190,000
Rental income: $1700
Property management: $136
NOI: $1,211
Principal + Interest: $713.97
Cash-flow: $475

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?

Front end: private money
Back end: Rate and term conventional

How did you add value to the deal?

Cosmetic rehab

What was the outcome?

Tenants signed a 2 year lease for $1700

Lessons learned? Challenges?

Inspectors hold a lot power and can make finishing a rehab difficult. We also have $2500 stuck in this one.