I bought it all cash, but used a line of credit for the purchase funds as well as for the rehab funds. SO...I have literally NO MONEY in the deal. Well, you get the idea and nomenclature. My rehab costs for all 4 buildings (8 units total) has been $200K total. I personally have about 200 hours invested in the whole project (Including my partner/spouse's time). It will appraise out next week for at least $650K. ALL because Nathan brought me the deal. And of course, Nathan and his firm, American West Realty, is managing the property for me, from the get-go. Seriously upgraded the property and the tenant base and quality in the process, and raised the rents substantially too. I have owned it a year and wasted a lot of time doing it all myself, so I finally hired help a few months ago and will have all 8 occupied by end of 2019. Nathan manages two dozen of my rental units, ALL which are in his coverage/service area. I wish he was able to manage ALL of mine, as that would be a blessing to me.

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

A perfect prospect for me, a seriously rundown property in my area which has great potential and rental demand for long term hold.

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

My real estate agent/property manager/friend Nathan G of American West Realty in Cody, WY, brought the property to my attention. I jumped on it and he helped me close the deal fast (In a few days). My profit is about $300K on it, with less than 200 hours of my own time, and NONE of my own cash used! Plus they will be outstanding rental units for me now, long term.

How did you finance this deal?

Cash buy, used credit line for all the purchase and rehab funds, so a true, "No-Money-Down" deal.

How did you add value to the deal?

Renovated the property completely, in and out. A substantial transformation that essentially doubled the rents and will almost eliminate headaches for the next 20+ years hold!

What was the outcome?

$300K profit on the deal and an extremely attractive long term hold rental for me. It should be completely renovated and occupied by the end of 2019, which is about 17 months after acquisition. I wasted over 9 months of that time but had 4 of the 8 units continuously rented the whole time I have owned it.

Lessons learned? Challenges?

Be ready to pounce, with CASH handy (or in this case, a credit line avail) and know your market well so you will recognize a bargain when you see it, FAST. Great deals will not see the light of day, so no time to screw around when one comes across your radar. Having a network of great pros keeping their eyes and ears open for deals and then bringing them to you first, is KEY! Thanks, Nathan!

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

Yes, Nathan G of American West Realty in Cody Wy, has managed many rentals for me for 7 years or so and found me many great deals including this one. Would never even been aware of this one, for a perfect example, had Nathan not brought it to my attention. One of the most important keys to success in real estate investing is to have a great PRO like Nathan, to help with all phases of the deal, from bird-dogging for me to negotiating and acquisition, property management and disposition.