Buy and Hold First Home

[Jason Clemens]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $167,000
Cash invested: $25,000

Single Family 1957 1 1/2 story home was Primary Residence, remodeled room by room. Converted to a rental property when our family upgraded to a bigger home. Renting for $1675/month and pulling a $600 net profit a month. Been renting it for the past 11+ years.

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

Very first house I ever bought. Had bought it with friends and bought them out when my wife and I got married. 4 years later we upgraded houses and converted this into a rental the last 11+ years

How did you add value to the deal?

Fully finished the basement adding a full bath in the basement, fully remodeled kitchen as well as re-insulating the attic and replacing windows.