Bank Owned Property purchased for buy and hold

[Stephanie Freed]

Investment Info:

Single-family residence buy & hold investment in Rockford.

Purchase price: $55,000
Cash invested: $59,106

Lovely 2 bedroom 2 bathroom SFR with over 1700 square feet of living space and 1 car attached garage in nice neighborhood on a beatutifully landscaped corner lot. Fresh and clean with large windows and great natural light with new carpet and paint, nice remodeled bathrooms, kitchen and finished basement with extra bedroom and bathroom. Nice fenced private back yard with large deck.

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

I have a great team in the local area that I trust and this property was in very nice condition and a good location.

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

It was through my local real estate agent that I have been working with since the end of 2017. It was a bank owned property.

How did you finance this deal?

Cash

How did you add value to the deal?

It was already in nice condition, I just took care of a few maintenance/repairs and purchased a refrigerator.

What was the outcome?

I am pleased with the property. It was purchased in November 2018 and after the COE I was able to travel to Rockford and view all our properties there.

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

Yes! I am very pleased with the team of people I have been blessed to put together in the local area.