Mayfield Heights SFR

[Robert Matelski]

Investment Info:

Single-family residence buy & hold investment in Mayfield Heights.

Purchase price: $95,000
Cash invested: $27,000

Purchased a small single family house in the lower-end part of Mayfield Heights (an east side suburb of Cleveland) as a buy-and-hold rental using conventional financing at 3.99% fixed (30 years). POS compliant, no major repairs needed. Minor cosmetic updating to be underway soon before putting it on the rental market.

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

Sought out property in decent school district.

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

MLS. No negotiating really... listing price seemed fair.

How did you finance this deal?

Conventional loan, 3.99% fixed rate for 30 years.