Building an empire one piece at a time!

[Thierry Lemercier]

Investment Info:

Other buy & hold investment in Lexington.

Purchase price: $78,000
Cash invested: $11,700

Nice little rental apartment in a charming college town! After some renovation will increase rent, increase ROI. This is a long term buy. Local bank helped with the financing... small deal, but building the real estate empire one piece at a time...

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! Negotiate with the real estate agents for this transaction.

How did you finance this deal?

15% down and local bank for the rest

How did you add value to the deal?

Full renovation in a town where people do not renovate! Tenants looking for something clean and newer.

What was the outcome?

I was able to raise the rent by 20 percent

Lessons learned? Challenges?

Pretty easy deal, but reno is always the tricky part! Trying to build a relationship with local contractors to save some money in the future.

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

Yes! PM me