Buy and Hold New Build in Lubbock Area

[Dylan Bennett]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $180,000
Cash invested: $40,000

Currently living in property. It is a new build so little capex/repairs needed. Have gained 30k in equity since purchase and will be able to rent for $1,600 a month when I move out. I am renting to a couple of my buddies for a discount of $400 for each equaling $800 a month.

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

The property is in a great location within the Lubbock area. Property values are growing quickly within this area as well as rents. With
Lubbock growing very quickly it was a no brainer.

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

It was a new build with a local home builder in the area.

How did you finance this deal?

20% down and the rest on a loan thru a local bank I have a relationship with.