$930 house in Louisville

[Jordan Moorhead]

Investment Info:

Single-family residence buy & hold investment in Louisville.

Purchase price: $80,000
Cash invested: $930

We bought this one directly from another investor who was just ready to be done! We'll need to remodel the place after the tenant moves out and will probably spend $20,000 or so doing that but will get $1000-1100 in rent. We borrowed 100% of the purchase price from a private lender and paid the closing costs out of the company account.

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

This was the 16th home we've purchased this year just like this

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

Direct from an investor. Gave them a price and they accepted.

How did you finance this deal?

Private lender 100% financing

How did you add value to the deal?

We will remodel after the tenant moves out and expect an ARV of $120-130,000

What was the outcome?

Rented and good to go for now!

Lessons learned? Challenges?

Buy more real estate!

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

Not on this one