Ranch house on a quiet street

[Carini Rochester]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $94,000
Cash invested: $19,000

Three bedroom one bath. Low price suburb. Quiet street. Previous owner couldn't afford care, maintenance or upkeep of the property. Cosmetic fix-up and got a tenant in in one month.

What made you interested in investing in this type of deal?

Lowest SFR in the town at the time. Expecting a good long term investment with some cash flow and good appreciation.

How did you find this deal and how did you negotiate it?

MLS. I had a real estate agent sending me listings that met my criteria.

How did you finance this deal?

Bank. 20% down.

How did you add value to the deal?

Paint, re-finish wood floors, yard clean-up.

What was the outcome?

Rented. Appreciating.

Lessons learned? Challenges?

I'm getting less cash flow than I had hoped, but more appreciation than I had expected. Rents will continue to go up and cash flow will improve.