Updated over 4 years ago on .
3rd investment property
Investment Info:
Single-family residence buy & hold investment in Phenix City.
Purchase price: $87,900
Cash invested: $25,037
3rd investment property. This was right beside our 1st investment property, and we felt it was a much more ready-to-move-in version. Had to put in $1625 to fix some minor issues, but we felt good about the investment from a long-term cash flow perspective. Renting for $950/month and cash flowing for $186 taking into account Capex and 10% PM fees, but we are self-managing.
What made you interested in investing in this type of deal?
It was next door to our first investment property and seemed like a much better deal, so we felt compelled to get it.
How did you find this deal and how did you negotiate it?
MLS and through our realtor.
How did you finance this deal?
Conventional financing 20% down.
How did you add value to the deal?
We only added cosmetic changes to it. Nothing crazy.
What was the outcome?
Renting at $950/month and cash flowing $186 taking into account CapEx and 10% PM, but we are managing it ourselves.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Tiffany MacManus
