425 N Day St, Powell WY

[Nathan Gesner]

Investment Info:

Single-family residence buy & hold investment in Powell.

Purchase price: $100,000
Cash invested: $20,000

Single-family home with 2bed/1bath upstairs, mostly finished basement. On 10,000 sq.ft. lot with large back yard, detached garage, sprinklers. Close to downtown area, quiet residential community.

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

I wasn't interested in buying anything but it was a pretty good deal. 20% below market, owner financing, very little work required. I jumped on it because the opportunity was there and I happened to have the money.

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

Owner approached me because she knew I handle a lot of investment property.

How did you finance this deal?

Owner financing. Seller wanted to avoid the tax implications of an outright purchase so she financed it for me.

How did you add value to the deal?

Bought below market, made some minor improvements, rented it.

What was the outcome?

I'll tell you in 30 years but the outlooks is good!

Lessons learned? Challenges?

None.

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

I am a REALTOR and represented myself.