Turnkey Darby Rental Property

[Dan Powers]

Investment Info:

Single-family residence buy & hold investment in Darby.

Purchase price: $85,000
Cash invested: $25,000

This property was a turn key rental in the neighborhood of Darby. It was occupied with a month/month tenant bringing in $850/month. It needed very little work to be brought up to standard to command market rent.

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

What made my investor interested in this deal was the lack of work needed and the high cashflow Darby brings in. Market rent in this pocket can reach $1350, with tenants paying all utilities his cashflow is going to right around 12k a year.

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

This deal was sourced through New Western Acquisitions, and was sold on a first come first serve basis.

How did you finance this deal?

This deal was financed through Sherman Bridge Lending, my buyer received 90% of the purchase and 100% of the rehab covered. He ended up only having to bring 15k to the closing table.

How did you add value to the deal?

Value is being added to this deal by redoing to the cosmetics of the house, kitchen, bathroom, paint, and carpet.

What was the outcome?

The outcome is going to be a great rental property that's going to cashflow 1k a month for years to come.

Lessons learned? Challenges?

Honestly this property was pretty stress free, no big surprises.

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

Dan Powers - New Western Acquisitions