All Forum Posts by: Matt Allen

High-interest rates mean fewer people buying, rent prices will remain strong for a few more years. 

Do you normally set up a non-interest acct for security deposits and separate accts for each property to collect rent?

Have you tried Rentastic?

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $165,000
Cash invested: $40,000

SFH just outside of Berkeley Springs WV

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

Got a deal on the purchase

How did you finance this deal?

Hard money, will cash out refi in a few months

How did you add value to the deal?

Full update, new LVT, appliances, paint, declutter. The roof and HVAC were recently replaced.

What was the outcome?

Rented for 2k a month

Lessons learned? Challenges?

Reno took longer than expected but I met a fantastic contractor!

 The location is ok, its a historic property with 20+ years of deferred maintenance. 

 I Budgeted 40k it's coming in around 50-55k

I’m under contract for a triplex that needs 10-15k more Reno than i budgeted, it should still cash flow 2-300 a month.  BUT…. It is a double lot that I can build a 2-4 unit on in a decent area.

COC return and cash flow.