Investment Info:
Other buy & hold investment in Wendell.
Purchase price: $45,000
Originally bought this building to house my Dry Cleaning business. Turned it into a rental when I sold the business in 2000.
What made you interested in investing in this type of deal?
Was already doing residential investing and was needing a place to move my dry cleaning business.
How did you find this deal and how did you negotiate it?
I just happened to meet the owner looking over his building and asked if he would be interested in selling. After meeting him and talking for a while, I just asked if he would do any owner financing.
How did you finance this deal?
Owner Financing
How did you add value to the deal?
Complete Renovation.
What was the outcome?
Building is now appraised at $185,000
Lessons learned? Challenges?
Rinse and Repeat!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I have bought and sold quite a few properties and have worked with real estate agents, owners as well as with different banks to establish lines of credit.
