Entry level rental investment

[Brian Bennett]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $40,000
Cash invested: $0

2 bed, 1 bath house, w/ property management and long term tenants

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

I was eager to get started investing in the rental so I knew a few people in my office that were holding a handful of units and asked if they would share with me. They agreed to sell ,e two of their unit so I could get the ball rolling.

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

I found this deal by talking to people in my real estate office, there wasn't much negotiating

How did you finance this deal?

I used my home equity to get to get a line of credit.

How did you add value to the deal?

I can add value to the deal by upgrading the home but there might not be much room for that. There are happy tenants in the unit and things are working as-is

What was the outcome?

Seems to be working fine now. I have happy tenants and positive cash flow.

Lessons learned? Challenges?

I am new to the deal, haven't had much time to have anything pop up just yet. Everything is smooth so far.

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

I am an agent myself and would love to help anyone else if you need the help.

[Ronald L Haynes Jr.]

@Brian Bennett Congrats on the deal you got!!! You give me hope that one day I'll land my first deal to start my journey as well!!