Single family, 3 bed, 1 1/2 bath - Malone, NY

[Richard Patrie]

Investment Info:

Single-family residence buy & hold investment in Malone.

Purchase price: $36,000
Cash invested: $12,396

3 bdr single family.

Price: $36,000
Repairs: $6,856
Terms: Cash
Rent: $775

All in price with closing costs was $44,493. CoC ROI - 10.23%

Refinanced. Received $32,096. New all-in cost is $12,396. CoC ROI after refi is 13.75%

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

Seller wanted to stay in the house. It was in good shape. Lady was retired. Made cash offer and leased back to her.

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

Found on MLS.

How did you finance this deal?

Cash deal, then refinanced.

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

My realtor is also my PM. We've done 9 deals together.