David Patterson Rental Deal

 

David Patterson Rental Deal

Reliable Property Solutions in Cedar Rapids, IA
David Patterson with Kathy Patterson

Commercial Property, Set up as a duplex, 1 side 4 BR, 1.5 bath currently occupied by long term tenant at $1,200 a month, other side is 5 rooms all currently rented at $300.00 per room; wherein they all share common kitchen and 2 bathrooms with coin operated washer and dryer in basement with yields over $100.00 a month. Discovered deal through MLS and currently under contract subject to current rehab selling., which will go on the market 15May21.

Rental Details

Property City: Cedar Rapids
Purchase Price: $200,000

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Case Study

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

Teaching me how rehabs are just to get us the profit to use as the down payment for rentals to create residual income to actually retire on and the power magnified in commercial properties.