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

* These examples depicting income or earnings are NOT to be interpreted as common, typical, expected, or normal for an average student. Although we have numerous documented successful deals from our coaching students, we cannot track all of our students’ results, and therefore cannot provide a typical result. You should assume that the average person makes little to no money or could lose money as there is work and risk associated with investing in real estate. The students depicted have participated in advanced FortuneBuilders’ training and coaching. The participants shown are not paid for their stories; however, some of the students depicted may also be a FortuneBuilders' coach, and our coaches are compensated for their services. We believe in full transparency, so please read our Earnings and Income Disclaimers and Terms of Use.



Case Study

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

Taught me the importance of rentals.