Alabama Rental Property

[Jimmie Powell]

Investment Info:

Single-family residence buy & hold investment in Fort Mitchell.

Purchase price: $165,000

SFR 5 bed 4 bath

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

$50,000 in equity! Minor fix up cost of $10,000

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

Driving in the neighborhood. It was on the market for a while.

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

Completely renovated interior; new flooring, paint & appliances.

What was the outcome?

Property was rented before it was on the market.

Lessons learned? Challenges?

Hard to find a good handyman to do work properly the first time.

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

Yes, a real estate agent.