White Ranch Greece, NY

[Carini Rochester]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $62,000
Cash invested: $10,000

3 Bedroom ranch

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

I was anxious to get started investing. Starting small. Hoping to grow.

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

This was a foreclosure being offered on Auction.com. I was the high bidder.

How did you finance this deal?

My partner and I each put in 50% of the needed capital and manpower.

How did you add value to the deal?

Cleaning, painting, new carpet, new kitchen countertop, new roof, new furnace.

What was the outcome?

BRRRR.
Got our money back and I bought out my partner. One tenant for five years. Pays on time. Cash flow.

Lessons learned? Challenges?

We were hoping to flip this but didn't get the offer we needed. I'm happy to hold this.