Single Family Investment while Active Duty

[Ek Becerra]

Investment Info:

Single-family residence buy & hold investment in Prattville.

Purchase price: $126,000
Cash invested: $45,000

3b/2b Single Family Home. 1500 sqft. No Garage.

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

It was a home we were going to live in, but we didn't move when we planned, so we opened it up for rent with a property management company and got some good renters that are still in the property.

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

It was listed on the MLS for 136K and we asked for a lower number- It was accepted. I just thought I was going to get a lot of "no" and assumed that they would say "no." Instead I received a yes!

How did you finance this deal?

We had some cash saved up for a down payment.

How did you add value to the deal?

We painted the property inside and outside, replaced all the carpets, added new countertops and replaced the faucets.

What was the outcome?

Great tenants!

Lessons learned? Challenges?

Other properties were renting for more, and I should have insisted we list it for more- but we followed what the property manager suggested... I think next time I will stick to my own research and maybe reach out to a different property manager who would have taken better pictures of the property. They just took old cell photos that were a bit bad... Another lesson learned! Take great pictures!