Investment Info:
Single-family residence buy & hold investment in Taylor.
Purchase price: $50,000
Cash invested: $4,000
5 bedroom 2 bath house located next to Western Illinois University - All in for 80k and rents have pushed to 2,100 / mo without any utilities included. Has a brand new roof and all the mechanicals are updated.
What made you interested in investing in this type of deal?
Great deal on a property that historically had rented out easily and for high rents.
How did you find this deal and how did you negotiate it?
It was part of a large portfolio fo properties that hit the market. I jumped on it immediately with a full price offer.
How did you finance this deal?
Paid Cash and then refinanced to pull all of my cash out.
How did you add value to the deal?
Replaced the roof, replaced the flooring with lvp, fresh paint, upgraded the fridge to a high end model.
What was the outcome?
Holding long-term
Lessons learned? Challenges?
Deals like this don't come often - need to have liquid cash to be able to jump when the opportunities present themselves.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Used Kelsey Hicks as the buyers agent.
