New addition to portfolio. Proof that they are still out there...

[Jonathan Plant]

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $155,000
Cash invested: $3,000

Beautiful 3bed 2bath 1188 sq' 1 car per side duplex. Built in 2014 on a 1 acre lot. Bought as a foreclosure in Arkansas.

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

Right Price and known rents.

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

Online real estate platform.

How did you finance this deal?

Conventional 15% down no mortgage insurance through a community bank.

How did you add value to the deal?

Spent $3K in repairs and now listed for rent.

What was the outcome?

Got it for 84% of market value which includes closing and repair costs. It is now listed for rent.

Lessons learned? Challenges?

Septic system was inoperable. We didn't check that but didn't hold that too costly compared to the overall value.

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

Husband and wife team: real estate agent and property management with a nationwide known firm. Using them now for my next single family home foreclosure deal.