Jacksonville, AR 72076
Buy and Hold
We purchased this asset for $30,000 in early 2016 with some 1031 Exchange money from a sale of a Single-Family Home (SFH) in CA.
We then took out a Home Equity Line of Credit (HELOC) for $50,000 from a local bank at 4.25% for the rehab costs. The After-Repair Value (ARV) is $120,000.
The house rents for $1,200/mo. Monthly expenses (Taxes, Ins, Debt Service) are $560/mo. Net Cash Flow each month is $640. We put $90 each month into a reserve for Repairs & Maintenance.