Yellow Door Home #4 Near University Campus

[Matthew Rogers]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $56,500
Cash invested: $10,000

Buy & Hold #4. This time we were able to purchase off of a line of credit and then structure long term financing at a later date. When all was said and done, we got paid 2k to own this house!! It is a stone's throw away from the local university and will rent for about $1k per month.

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

Great BRRRR opportunity

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

MLS. My wife is an agent and she negotiated the terms.

How did you finance this deal?

Commercial line of credit.

How did you add value to the deal?

Exterior/Interior paint, installed A/C unit, New electrical + panel, Appliances, Vinyl flooring throughout, bathroom upgrades

What was the outcome?

Paid 56K / Appraised for 115K... Great university rental

Lessons learned? Challenges?

Doing the labor ourselves is becoming a time challenge. Next time we'll probably spend more to contract out.

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

My wife is an agent. We have an excellent local lender.