David Patterson Rental Deal


David Patterson Rental Deal

Reliable Property Solutions in Hiawatha, IA
David Patterson with Kathy Patterson

Home for sale for $134,000, Offered $115,000 with disclaimer I would close on seller's timeline. Sale pushed out because seller needed more time to move out. Purchased Home for $115,000 and expected to get $900 to $1,000 a month in rent. Put $4,500 into repairs and re-painting and re-plumbing, new Hot Water heater. Paid cash for property and rehab. Property Management Company (PMC) had a tenant in under 2 weeks for $1,250 a month. After PMC fees, we clear a little over $1,130 a month on property.

Rental Details

Property City: Hiawatha
Purchase Price: $115,000

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Case Study

How did the FortuneBuilders team and resources help you to accomplish this deal?

Taught me the importance of rentals.