1803 Fayette Avenue Beloit WI - 2% Deal!

[Scott Sklare]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $68,500
Cash invested: $14,000

Beautiful 3 bedroom home with much to offer! Wonderful updated kitchen comes complete with stove, refrigerator and dishwasher. Formal dining room is open to the living room making it great for entertaining. Enjoy the natural light from the large main floor windows. 3 season porch for relaxing! Many updates in the last few years including roof, water heater, furnace and central air. Many updated windows. Fenced yard. 1 car detached garage. All this in a convenient east side location.

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

I was the broker on the buyer's side. Very nice home that we knew would rent for $1200 per month

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

We found this on the Multiple Listing Servivce (MLS). We negotiated based on our knowledge of the market, the inspection report, and quantified items that needed repair or replace.

How did you finance this deal?

We were the broker, our client worked with a local community bank that is very bullish on our business nice.

How did you add value to the deal?

We find, analyze, help navigate the financing, take care of the repairs, then we found a tenant to rent the house for $1200 per month.

What was the outcome?

Outstanding! 2% rent to purchase price

Lessons learned? Challenges?

hard work pays off.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes.