Buy and hold by sharing what we do!

[Herbert Lewis]

Investment Info:

Townhouse buy & hold investment in Baltimore.

Purchase price: $63,000
Cash invested: $15,000
Sale price: $100,000

I purchased this house from my photographer's aunt. He told his aunt that we buy houses, and she wanted to sell a house she inherited. We paid him a referral fee, and we purchased the house with Hard Money. I sold the house after two years of renting it out for $1,300. I made a profit from the cash flow and sale of this house.

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

I was growing my buy and hold in Baltimore, MD

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

The deal was brought to me by my rental photographer. His aunt just inherited the house from her sister. We paid him a referral fee, and he got to take the pictures of all our rentals moving forward.

How did you finance this deal?

We finance the deal with a local hard money lender.

How did you add value to the deal?

We updated the property with new paint throughout the house, stainless steel appliances, new carpet, and new laminate floors.

What was the outcome?

We had a renter for two years in the property paying $1,300 per month and cash flowing. I eventually sold for a profit to another investor who brought two of my properties simultaneously. She was a new investor looking to grow her portfolio, and we were looking to cash out and reuse the money on other investments.

Lessons learned? Challenges?

It would be best if you always let people know what you are doing when it comes to real estate. This deal was off-market and came to us because we let our photographer know we were investors looking to purchase SFH.