Turnkey Single Family Residence

[Matthew Brill]

Investment Info:

Single-family residence buy & hold investment in Ocala.

Purchase price: $159,900
Cash invested: $35,490

3/2 1357 sq ft
This was a new construction build to rent.
Pro forma Cash flow was $156/month CoC return 5.3%. After getting a tenant signed lease the net cash flow after reserves is $220 with CoC return 7.6%.

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

This was meant to be more an appreciation play with sold enough cash flow to support itself. Plan is to have little maintenance the first 10 years and then sell before any large CapEx.

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

I used a marketer with sizable network and lots of experience with this builder, no negotiation.

How did you finance this deal?

Conventional loan.

How did you add value to the deal?

No value add, just the new construction proposition.

What was the outcome?

Still renting.

Lessons learned? Challenges?

New contsruction is great.

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

I used Jason Hartman Platinum Properties network.

[Matthew Brill]

@Nathan Gesner

Thanks!

I’m planing to keep buy 1 property a year until I max out my Fannie/Freddie loans. I’m also considering jumping into mid size multifamilies. I also invest in larger apartment syndications which will probably be my predominant strategy moving forward. I am planning on investing with @Brandon Turner in his next open door capital fund. I would also like to help others get into house hacking and benefit like I have.