Updated over 6 years ago on . Most recent reply
Buy and hold #3 - Chicago
Investment Info:
Single-family residence buy & hold investment in Chicago.
Purchase price: $85,000
Cash invested: $1
Purchase: $85,000 (plus $40,000 construction loan) using private money
Rehab: $29,500
Refi:$ $125,000 (rate and term)
ARV: $170,000
Rent: $1600
Property management: $128
NOI: $ $1,255
Principal + Interest: $676.40
Cash-flow: $ $579
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: Hard money
Back end: rate and term conventional
How did you add value to the deal?
Cosmetic rehab
What was the outcome?
Tenant signed a 2 year lease for $1600
Lessons learned? Challenges?
Private money is so much better than hard money!