Para Adams / Silicon Slopes Investment

[Cory Hunt]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $460,000
Cash invested: $5,000

First rental

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

Moved out of state for work and allowed home to gain equity while someone paid the mortgage and provided decent cash flow.

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

Realtor. Comparables were lower than they should have been due to a newer developed area. Instant equity upon close.

How did you finance this deal?

20% Down from first owned home 1033 exchange. Mortgaged the remaining.

How did you add value to the deal?

Prime location, finished the yard and added some detail to the property.

Lessons learned? Challenges?

Trying to build an add on to this existing home to add 4th garage and 2B /1B for additional cash flow / equity

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

Cindy Fullmer highly recommended