High rent area buy and hold required a little love

[Ryan Hoover]

Investment Info:

Single-family residence buy & hold investment in Peoria.

Purchase price: $430,000
Cash invested: $90,000

Long term value add buy and hold purchased from the MLS. There was a small margin for cash flow in the as is condition of when it was purchased, but I opted to complete a full interior remodel, along with redoing the back yard landscape. The updates should net an additional $400 a month in cash flow.

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

Looking for a larger SFH to add to the portfolio, which would bring in higher rents.

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

Found this one on the MLS and I was able to negotiate a price drop by removing my buyer's agent commission, since I was the Realtor.

How did you finance this deal?

30 year conventional mortgage at 3.625%

How did you add value to the deal?

Renovated the full interior and backyard landscaping.

What was the outcome?

Property is currently being marketed at $3000 per month.

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

Zach Wain, from Wain Capital is the best lender at offering financing solutions for investors with complex files.