First home turned Buy and Hold

[Alex Hessman]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $65,000
Cash invested: $40,000

This was my first home. Kept it as a rental when I purchased a new one.

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

Wasn't investing in this house as a buy and hold but as a residence.

How did you finance this deal?

Owner Financed

How did you add value to the deal?

Complete Rehab

What was the outcome?

A very nice single family home that I actually rent to my Parents.

Lessons learned? Challenges?

When I did this rehab I was unaware of the BRRR method. After reading the book I would of refinanced it right away and pulled the 40k of improvements out right away. Lesson Learned!

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Zero. I did this 100 percent on my own. Not somehting I wouldn't recommend BUT, it was a great lesson that I wouldn't take back