3 bdrm, 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 19.75%

How did you finance this deal?

Cash deal using a HELOC, then re-financed

How did you add value to the deal?

Rented the property back to the owner. She got cash, and didn't have to move.

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.