Property purchase number 95

[Tim Hendricks]

Investment Info:

Single-family residence buy & hold investment in Clarksville.

Purchase price: $122,200
Cash invested: $3,440

Investor put up $21,000 for 20% annual cash on cash return, or $350 per month. I put up the remaining $3440 and receive $311 per month cash flow. Also received a $10,000 non refundable down payment from the lease/purchaser.

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

Cash flow primarily, and down payment money is a nice bonus.

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

MLS

How did you finance this deal?

Investor conventional financing.

How did you add value to the deal?

Knowledge of the area, what we could buy for, what we could lease for, lender who would do the deal with a qualified investor.

What was the outcome?

Typical of the last 94 deals.

Lessons learned? Challenges?

Just need more investors who can put up the credit statement. The properties are available if you know the numbers in a specific area.

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

I am a licensed real estate agent in Tennessee.
Lenders who will work with a well qualified investor should be easy to find.