2nd property: Turnkey rental property

[Joseph Braund]

Investment Info:

Single-family residence buy & hold investment in Lafayette.

Purchase price: $121,000
Cash invested: $27,000

This was my second investment property purchase. This was tenant occupied and was purchased turn-key. This is a 3rb 2ba 1650sqft home.

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

I wanted to try a turnkey rental for my second deal in light of lessons learned from my first.

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

I searched the MLS and purchased through a realtor who was recommended to me by a coworker who also has invested in the area.

How did you finance this deal?

Traditional mortgage with a local bank

What was the outcome?

This has been a great success thus far and I'd like to purchase more like it.