Single Family Rental in Louisville

[Jordan Moorhead]

Investment Info:

Single-family residence buy & hold investment in Louisville.

Purchase price: $73,000
Cash invested: $80,000

Contributors:
John Dickinson

Single family house we picked up from a wholesaler with newer windows, roof, HVAC, plumbing and it even came with a prepaid insurance system! We're going to attempt the BRRRR strategy on this.

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

We're buying 7 more in this neighborhood with 2 even on this street.

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

Found with a wholesaler and didn't even try to negotiate. The numbers worked and we wanted to add it to our portfolio in this area.

How did you finance this deal?

Paid cash with my partner and will refinance once rehabbed and rented.

How did you add value to the deal?

We will do a light cosmetic rehab but this was already priced under market value.

What was the outcome?

We'll rent for $950-$1000 as we already have houses in this neighborhood that we've rented for that.

Lessons learned? Challenges?

Use cash and move fast!

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

We worked with a wholesaler we met off a facebook group.