Property 2 of 6 in Detroit bought this month.

[Ericka Williams]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $30,000
Cash invested: $4,000

Rental property with tenant already included, the tenant lease ends in november 2019. Will likely spend money on the bathroom.

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

Great investment . I want about 10 units in Detroit before getting 10 units in texas. I have a great contractor and management team in town.

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

I negotiated 6000 off the purchase price. It already has tenant in it, but wanted to offer less because its 2/1 and not a 3/1 like most of the ones I am looking for.

How did you finance this deal?

Cash from my other private investors and money from my TRUCK business I have 9 Semi Trucks leased on with a 3 party logistics company.

Lessons learned? Challenges?

relationships are the most important than in real estate.

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

I worked with Denson Construction Services, the owner Asia Denson has won awards for real estate.