Twin Home Furnished Rental

[Daniel Johnson]

Investment Info:

Single-family residence buy & hold investment in Winston Salem.

Purchase price: $115,000
Cash invested: $17,250

Purchased one side of a "twin home", it was turnkey, so we repainted and furnished the property. Once complete, we listed on Zillow as a all-inclusive furnished listing and found a tenant at $1,700/mo.

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

This is a little known neighborhood in my town. It is a very private community that is well maintained, but prices are still very affordable.

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

It was listed on the MLS, negotiated with a quick close.

How did you finance this deal?

We financed the deal with a local commercial lender. They allowed a 15% down, 20 year amort, 5 yr balloon.

How did you add value to the deal?

We furnished the property and got professional pictures taken.

What was the outcome?

Long-term lease at above market rates.