2nd Investment in Avondale, AZ - Buy and Hold

[Dennis Dougherty]

Investment Info:

Single-family residence buy & hold investment in Avondale.

Purchase price: $195,000
Cash invested: $60,000

This is an SFR that we purchased immediately after the sale of W. Monroe St. The intention is is to increase monthly cash flow by at least 20% with the purchase of this unit. This purchase created a monthly cash flow increase of 31%, leading to its loan payoff in the next 12-18 months. ( by 12/20). It will then be turned into either a full time rental or short term rental, due to its location. This home is ideal for either because of its proximity to educational facilities and sporting events.

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

Monthly Cash flow and the future rental status

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

We found this deal by driving around

How did you finance this deal?

Bank finance

How did you add value to the deal?

Interior remodeling over time

What was the outcome?

The outcome is still in process

Lessons learned? Challenges?

Chose real estate professionals carefully

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

The realtor used on this home was not very skilled and I would not recommend this person to anyone. This prompted me to get educated in Real Estate and Investments. We currently search out our own deals either through an educated/experienced investor or direct to the seller.