Turn Key Buy and Long Term Rent strategy

[Cavan Mitchell]

Investment Info:

Single-family residence buy & hold investment in Clarksville.

Purchase price: $160,000
Cash invested: $1,000

Contributors:
Stephen Campbell

Buy and Hold with No Money Down. Turn Key Operation with no rehab necessary. Long term rents $1300/month

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

First property to test the waters in Tennessee, rentals are very hot in this market and we are cash flowing positive to allow us more confidence to continue to acquire additional properties at better negotiated purchase price.

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

MLS/Realtor.

How did you finance this deal?

VA Loan 30 years

How did you add value to the deal?

Fortunately this property was already Turn Key Operational. It was rented out within 1 week of listing in market.

What was the outcome?

Cash flowing positive.

Lessons learned? Challenges?

We learned that we needed to acquire more properties and fast. Challenges is to build credibility with lenders to acquire more.

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

Yes