Cash-Flow SFR With Garage

[Clark Kirkpatrick]

Investment Info:

Single-family residence private money loan investment.

Purchase price: $46,000
Cash invested: $90,000

Single family home with 4 beds, 2 baths and a 3-car garage in the heart of Pottstown. Purchased as a short sale. At the time of purchase, we estimate it needs $30,000 of rehab work so that we can make it pretty and rent it out for a projected $400/month cashflow.

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

Found as a short sale on the MLS, and it took several months to close because of the short sale process.

How did you finance this deal?

Private money loan, then a cash-out refi

How did you add value to the deal?

Medium-sized rehab, including floor coverings, mold remediation, junk removal, water in the basement, and some kitchen and bathroom work.