Where Home Is - Deal #3

[Alexis Fentress]

Investment Info:

Single-family residence buy & hold investment in Louisville.

Purchase price: $36,000

Through networking I found a wholesale deal. I checked it out and bought it within a few days! I've put around $15,000 into renovations and have it rented out for $800/month (tenant signed a 3 year lease).

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

It fit my budget.

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

Networking.

How did you finance this deal?

n/a

How did you add value to the deal?

Through renovating.

What was the outcome?

Cash flow, baby!

Lessons learned? Challenges?

Don't buy properties with BIG trees - they are expensive! Also, have contractor's contract have a date to finish project by, and deduct if not.

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

n/a