LSU Rental home in newer community

[Remy Curry]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $275,925
Cash invested: $59,365

4 bedroom 2 bath home barely 3 years old located in a prime location for LSU students

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

Newer construction. No work needed. Highly desired area.

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

Hard to negotiate in this market but made it work. After we got through inspections I decided not to take any commission so that I wouldn't be taxed and I could have more equity in the home. It appraised for 282. We bought at 275,925.

How did you finance this deal?

through a lender with 20% down

How did you add value to the deal?

knowledge of the market and needs

Lessons learned? Challenges?

This was my first one. Hard to find deals right now but we got it before prices went up even more. Main challenge was the time we bought because college students were already in a lease agreement and were not ready to sign another one for the future school year. However we found someone who wanted to rent it at a discount until June when the new tenants would take over.

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

I am a realtor