First Personal Rental Property, Located in Lawrence.

[Justin Capps]

Investment Info:

Single-family residence buy & hold investment in Indianapolis.

Purchase price: $52,000

Wholesale deal, SFH, 1960s 3/1, Purchased for $52,000, needs some cosmetic rehab upon turn. ARV of 70-75k, tenant occupied at $850/month for several years, current market is $900/month.

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

Through a local wholesaler. No negotiation. I felt the presented price was good. Wholesaler later marketed the property for $5k more and there were buyers interested.

How did you finance this deal?

Private financing source

How did you add value to the deal?

Upon move-out, I will tenant proof property and will likely update furnace. Only item done as of 2/25/20 is changed locks.

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

Local wholesaler that I would recommend.