Third New Rental in a Month with Cash Flow Day One

[Kristopher Kyzar]

Investment Info:

Condo buy & hold investment in North Charleston.

Purchase price: $69,000
Cash invested: $10,000

Contributors:
Russ Scheider

Purchased through a wholesaler I work with in the area. Local Hard Money financing. No repairs. Existing tenant.

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

With no up front repairs required and an existing tenant, this one cash flows immediately.

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

Email from Russ Scheider. He was marketing it for another wholesaler.

How did you finance this deal?

Local Hard Money lender.

How did you add value to the deal?

None required.

What was the outcome?

Great rental with immediate cash flow.

Lessons learned? Challenges?

Networking pays off. I found the lender and the insurance company because I asked Russ if he knew anyone.

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

Ian Smith again walked the property for me and handled many of the on-the-ground things I needed. He's a superstar.