Status Update on Turnkey Rental

[Ralph Chiaia]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $191,000
Cash invested: $45,000

Tenant was put in place in April and smooth sailing so far, which I hope will continue. I feel like if you survive 2020 you're likely stronger than you were in 2019.

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

My friend and former co-owner at the bar. He got me started in investing in real estate.

How did you finance this deal?

Financed with with Cross Country Bank.

How did you add value to the deal?

I didn't. This is turnkey. I think the plus is that the area and city are great. I believe the medical corridor plus all the jobs from the four amazon warehouses (and counting) will keep this local economy growing for years to come. I love what the city is doing in the downtown area.