My 8th Rental Property Section 8 in Gary Indiana

Описание: My 8th Rental Property Section 8 in Gary Indiana!

Another section 8 rental property in Gary Indiana! This deal right here was my second BRRRR strategy property!

Purchased from a wholesaler for $29k I made $26k in repairs and was able to pick up an ARV at the cash out refinance of $134k! That is $79k in equity!!!! Fantastic numbers on this making My 8th rental property a really hard to deal to top! When I closed on the cash out refinance the bank cut me a CHECK for $68k meaning I actually got paid $13k to buy this deal!

The monthly payment is $668 and as I said it will rent for $1,150 to a section 8 tenant! This deal only pays me a 137 dollars a month in cash flow which is well beneath the $250 dollar amount I typically go for! But because I have none of my own money in the deal I actually have an infinite return as far as cash on cash return is concerned!

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