Owner Finance Deal buy and hold

[David Roe]

Investment Info:

Single-family residence buy & hold investment in Dayton.

Purchase price: $105,000
Cash invested: $5,000

3 Bed 1 Bath recently updated Cottage with 1.5 car garage and fenced in yard, full unfinished basement with two HVAC systems.
$105k purchase with $5k down 4% rate for 30 years, 5 year pay off balloon. Rented now for $1,000 an month. Needed less than $1,000 in repairs. Current market value in that neighborhood is $115,000.00

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

Owner Financing

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

My nanny was renting it. The owners decided to sell it so I offered them 105k, 5k down, now realtor fees, 4% interest, and 5 year pay off.

How did you finance this deal?

Listed above

How did you add value to the deal?

Previous rent was $550, now rents at $1000

What was the outcome?

added another rental to my portfolio