Radcliff Avenue
Purchased: June 2022
Price: $360,000
Terms: Private money, 1 year loan, 8%
Exit: 3 year lease, tenant is purchasing an Option to Buy
Overview: This house was in rough shape when we purchased it, there was nothing that could be salvaged and needed a full gut job, demolition of 24 trees and bushes in the back, and a garage built from scratch.
Exit Plan: We have rented the property on a lease-option and intend to sell to our Tenant who is renting NNN for the time being. Our plan is to get them prepared to refinance the home based on a value of 700K, which is realistic for the neighborhood.
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