Buy & Hold Investment

[Goziem Ononye]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $60,000
Cash invested: $2,613,100

Single Family Residence in Columbus, SC.

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

The cashflow and rental income.

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

A wholesaler brought this deal to me

How did you finance this deal?

I used a SDRP (Solo 401K) and a lender to finance the deal

How did you add value to the deal?

I'll be fixing the roof to add value to it.

What was the outcome?

The house is under my LLC

Lessons learned? Challenges?

Have some boots in the ground, verify if the house will be delivered vacant or with the tenant in place.

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

Yes, I worked with a lender