All Forum Posts by: Stephanie Freed

Thank you Jonathan Soto!

Thank you Michael Cross!

Hi Michael, I have lived in California all my life where it is not possible to purchase such a nice home at this price point!  It will rent for $995 per month. Although I have over the years invested in California, I am venturing out of state now as cash flow is my goal at this point. This property is in Illinois.  To date I have purchased 4 properties there and currently negotiating 2 more.  I have been researching other out of state locations and have a few more states in my radar and will be taking a road trip soon to check them out.  Thank you, have a blessed evening!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $60,000
Cash invested: $61,447

Charming 4 bedroom 1.5 bath 1414 square foot single family home with Arched and leaded glass Entry door and lovely curb appeal.

How did you finance this deal?

Cash

How did you add value to the deal?

This home was in very nice condition, it only needed new interior paint and to refinish and stain front wood stairs and porch at entry and window box.

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

I was pleased with my real estate agent, the date it closed she had the painter lined up to begin the interior painting and exterior staining. And she even had purchased and installed new curtains for me.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $53,000
Cash invested: $60,882

3 bedroom 1.5 bath brick home with attached 1 car garage and full basement on corner fenced lot.

How did you finance this deal?

cash

How did you add value to the deal?

Painted the entire interior, removed indoor/outdoor carpet in kitchen and replaced it with vinyl plank flooring, new carpet throughout, new bathroom flooring, vanities, faucets, sinks, light fixtures, medicine cabinets etc.

What was the outcome?

It rented quickly at $975 per month to long term good quality renters that had been renters through the property management company for years.

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

It was the first long distance renovation utilizing the contractor recommended by my real estate agent. My agent was very helpful to allow access to the contractor, and helped in scheduling measurements and installation of materials etc. I was very pleased!

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $59,900
Cash invested: $60,475

Beautiful SFR owner occupied home for the last 30 years. 3 bedroom 1.5 bath, beautiful kitchen, hardwood floors. A very well maintained lovely home with over sized 3.5 car garage.

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

This was a lovely well cared for owner occupied family home for 30 years.

How did you finance this deal?

Cash

What was the outcome?

It rented right away!

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

Yes this was the second purchase using my highly recommended real estate agent. She let me know of this deal before it hit the open market.

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $54,000
Cash invested: $54,997

Remodeled 3 bedroom 1 bath single family home built in 1951 in a quiet neighborhood with detached 1 car garage and fenced in back yard.

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

I have always had more faith in real estate as an investment vehicle than say the stock market. I appreciate the tangible value (of real estate... people will always need a place to live) vs the volatile value of a stock on paper that may not be worth the ink its written in or too easily misrepresented or manipulated.

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

I found it searching that local market, and utilized the service of a highly recommended local real estate agent.

How did you finance this deal?

Paid cash.

What was the outcome?

I was wanting to test the market and the recommended agent, as to her knowledge of the local area, the suggested rent amount, and the recommended property management company. I used this purchase to decide if future investment in this area was to be considered.

Lessons learned? Challenges?

I learned that the end of December was not the ideal time to purchase a property, as I was not able to take advantage of a property tax reduction whereby a tenant was required to be in place by January 1st to take advantage of this property tax savings.

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

Yes, this was my first out of state purchase. The real estate agent came highly recommended and she has proven to be a wonderful boots on the ground advocate!