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Updated about 3 years ago,
Buy and Hold Single Family Rental
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $360,000
Cash invested: $360,000
Sale price: $520,000
This was our first investment property. It turned out to be a very lucrative purchase as we watched the market skyrocket after the purchase.
What made you interested in investing in this type of deal?
We origianlly intended to call this property our home. However, after realizing the upside in cash flow we opted to rent it out and purchase another property to call home.
How did you find this deal and how did you negotiate it?
This home had multiple offers when we found it. But knowing we could do all cash was what sold the sellers on us.
How did you finance this deal?
Cash to win the deal, then cash out re-financed to leverage our asset.
How did you add value to the deal?
Holding the property as it's value climbed.
What was the outcome?
Cash flowed as a rental, and we were able to capitalize on the sale.
Lessons learned? Challenges?
Get in anyway you can.