Solid 4/2 in Warren township of Indy as a seller finance deal

[Bryan Lyde]

Investment Info:

Single-family residence buy & hold investment in Indianapolis.

Purchase price: $62,000
Cash invested: $76,000

Contributors:
Joel Wilmoth

Great 4 bedroom 2 bath SFH near a park and in Warren township.
We had some repairs to make that ran $14K, ARV came in around $90k.
My strategy for this property is to do seller finance as it was an all cash deal.
Should cashflow roughly $725/mo. Return is roughly 11.5% annually
Secondary option is as a rental at $950/mo, with cashflow ~$523, monthly

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

The property has mostly cosmetics to address and area was solid. It met all my criteria

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

MLS listing via Trulia daily email updates

How did you finance this deal?

all cash

How did you add value to the deal?

minor cosmetics and clean up, added air conditioning and landscaping

What was the outcome?

Still listed for sell but should perform as a nice addition to my portfolio.

Lessons learned? Challenges?

Contractors can and will try to take advantage of out of state investors. Get many bids

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

Max Richter with the Wilmoth group is my lead PM and realtor. Great team!