Previous SF investment

[Frank Ringo]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $170,000
Cash invested: $2,000
Sale price: $210,000

SF rental bought and sold before the RE crash 2008

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

I wanted assets to align with my W2 work. I also saw the area improving to capitalize on low home prices

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

Found by driving the neighborhood, "for sale by owner". I consulted a RE agent friend and made an offer.

How did you finance this deal?

20% down, 30 year fixed conventional

How did you add value to the deal?

paint, carpet, minor wall repair

What was the outcome?

Rented the house (1200/mo) to a family, it was great for about 2.5 years. Then, family issues developed and rent was no longer reliably paid. evict,Paint, carpet and sell.

Lessons learned? Challenges?

Multi-family is the better course. Manage property as a professional (eg; remove your personal emotions)
Challenges: Human factors will ALWAYS come to play !