Dover Ave, first step into value add.

[Joseph Miller-Hall]

Investment Info:

Single-family residence buy & hold investment in Tuscumbia.

Purchase price: $28,000
Cash invested: $4,500

My second purchase as an investor. Still made a lot of mistakes, but has matured well and is cashflowing greatly.

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

Within my budget, and seen a lot of value add.

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

MLS, negotiated price down a bit.

How did you finance this deal?

Hustled and saved hard money.

How did you add value to the deal?

Rents were raised from $425/mo. to $600/mo. (market rents for a property like this in the area).

What was the outcome?

So far, so well. Great cashflow, even with the mortgage payment on it.

Lessons learned? Challenges?

Spent about $7k on fixing this property up; whereas, I would of loved to put in sweat equity instead.