All Forum Posts by: Connie West

Thanks Brent!

Thanks Matt! Great idea, I'll send that question to their realtor.

Thanks! It's a small town, I'll call the police department too.

What are the implications of buying a house that has "Drug House" in the seller disclosure?  Was looking at it for a buy and hold rental property. Thanks for your input.

Investment Info:

other investment in Morristown.

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

Short term seasonal rental

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

Cash flow diary podcast.

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

Education then using existing assets.

How did you finance this deal?

Self directed IRA.

How did you add value to the deal?

Service and value.

What was the outcome?

Solid bookings during the season.

Lessons learned? Challenges?

Put systems in place and have extra supplies stocked.

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

No

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $125,000
Cash invested: $12,500

Owner carry, SFR rental.

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

Wanted rental property and offered out of state owner a "full price as is" offer if they would carry the note. This was after 2 deals had fallen through and had asked them to make repairs for FHA. Good timing and met great realtor in the process.

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

House next door. Sympathized with the realtor who was jumping through hoops to get it sold. She liked me so I wrote an offer with me terms. Owner more concerned with getting their asking than immediate cash or any interest.

How did you finance this deal?

Owner carry no interest.

How did you add value to the deal?

Full price offer.

What was the outcome?

Rent covers mortgage, insurance, taxes and management fee + about $200 profit pretty month.

Lessons learned? Challenges?

My first rental. Even with a property manager, nightmare first tenant. This new tenant is a dream.

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

Agent - Katie Painter Keller Williams located in Wickenburg AZ