Marla Moody Rental Deal

 

Marla Moody Rental Deal

Integrity First Properties in Winter Park, FL

I found this property through the MLS working with a Realtor who searches distressed criteria in my zip codes. The property has been used as a rental unit for 40 years and they were tired of dealing with the hassles. It was a cash-only purchase. I had a private investor underwrite 85% at 2.5%. The property has two structures and a total of three rental doors. A 1350 sq ft traditional house in front and building in back with 2 small units which are furnished and renting them over market value to traveling nurses. There is a line of applicants wanting to rent these units. There were back-to-back appointments to see the property on the first day. The sellers picked my offer, not because it was the highest, but because of the endorsement of my Agent. The selling agent and my agent were in the same brokerage. They do talk off record. That worked to my advantage.

Rental Details

Property City: Winter Park
Purchase Price: $410,000

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Case Study

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

I would not have gotten this property without the influence of FB. I was coached on various aspects of how to get the property, how to find contractors for repairs, and even finding the property by having an agent run the search on the MLS with a list of distressed options. The confidence of knowing I can get a coaching call when I have questions. That confidence and the knowledge gained let me get the deal.