Toledo SFH - buy and hold - an experiment!

[Chelsea Ziss]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $18,500
Cash invested: $18,500

Single family home in Toledo. A bit of an experiment - we've never bought in a D neighborhood, but the cashflow was too good to pass up.

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

Cashflow and seeing how we feel about D neighborhoods vs A/B.

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

I am a real save agent, and set up my own searches for types of properties and interested in so I usually see them before they hit the market. This particular home was part of about 20 homes that got unloaded by investor out of California who wants to focus in a different area.

How did you finance this deal?

We paid cash, 19500. However since I am a real estate agent, I got a buyer's agent fee of $1000, so really only 18,500.

How did you add value to the deal?

I didn't. There's already attendant in there that's been there for 6 months and had a good rent roll, so we roll the dice.

What was the outcome?

I'll let you know in a couple months!

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

I am an agent, so finding the deal was pretty easy. I had some cash left over from a BRRRR deal that was my personal residence, and we used that to make the purchase.