Real Estate in Action!

[Levi Kinnard]

Investment Info:

Single-family residence buy & hold investment in Charlotte.

Purchase price: $291,000
Cash invested: $2,000

This property is leased to a non-profit that sublets the property into multiple units.

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

After I was able to refinance the property at 2.375% interest, the level of positive cash flow was impossible to pass up.

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

I looked for a house priced well below the comps in the area that had been on the market for a long time. When they dropped the price, I submitted the offer immediately, and it was accepted.

How did you finance this deal?

Bank financing.

How did you add value to the deal?

Bought, rehab investment of $8K, refinanced the rehab costs back out of the property at much lower interest rate than original rate, and accepted a rental method that maximized cash flow.

What was the outcome?

Great cash flowing property that meets my return criteria!