1st Rental Property - Summary

[Jennifer Rohr]

Investment Info:

Condo buy & hold investment.

Purchase price: $215,000
Cash invested: $18,000

Made improvements, lived in it and now rent it.

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

housing-hacking - only 5% down.

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

I found it, I am an agent, negotiated myself. Commission was credited towards closing costs.

How did you finance this deal?

Conventional mortgage

How did you add value to the deal?

New flooring, updated bathrooms, new appliances, paint,-all sweat equity - minus electrical upgrades.

What was the outcome?

Home is valued more now - able to charge the highest rent in the complex for our style unit.

Lessons learned? Challenges?

Would have made some additional improvements if we had more cash and time available at the time.

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

Myself and work in general with a good team of people.