Buy and hold #3 - Chicago

[Angie Taggart]

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!