Purchasing new SFH to turn old SFH into rental

[Abigail Gibson]

Investment Info:

Single-family residence buy & hold investment in Asheville.

Purchase price: $650,000
Cash invested: $70,000

Purchasing a new personal home to turn our old personal home into an investment. We refinanced personal home into a 2.675% 30 year in 2020. Cash Flowing $2100 ($1800 after capex) a month on my soon-to-be previous personal residence.

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

On the MLS.

How did you finance this deal?

Lender, had money left from a previous sale in 2021.

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

My lender is great. Garrison Weiner helps me on numerous of my deals.