New Buy and Hold in Mobile, AL

[Eddie Sumerlin]

Investment Info:

Single-family residence buy & hold investment in Mobile.

Purchase price: $33,000
Cash invested: $20,000

BRRRR property I've recently purchased.

Purchase Price: $33,000
Rehab Cost: $20,000 (over estimated, aiming for $14,000)
ARV: $80,000
Estimated rent: $850/mo
Property Management: 8%
Insurance $1457.90/yr
Taxes: $400/yr
Maintenance: 10%
Vacancy: 5%

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

Great potential in this area... Neighborhood is C with decent rent amounts. The City of Mobile has been doing lots of renovations in this area and International Airport announcement less that 5 minutes from this property.

https://www.fox10tv.com/news/mobile_county/alabama-firm-selected-to-manage-construction-of-new-downtown-mobile-airport/article_26a03e04-0158-11ec-afcb-776ad6f851e9.html

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

Revitalize Homebuyers (Wholesaler sister company.)

How did you finance this deal?

Hard Money.

What was the outcome?

Currently renovating.