PHX Long Term Rental

[Dan Weisinger]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $350,000
Cash invested: $25,000

Turned our former primary residence into a long term rental based on low int rates and rising rental market

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

This was the first long term rental in our portfolio. We loved the idea of using this as the blueprint for our first LT rental to learn about the ebbs and flows.

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

This was a former primary res we purchased in 2018

How did you finance this deal?

Conventional

How did you add value to the deal?

we focused on the major systems first ie: roof, HVAC, minor plumbing. Knowing this was a LT we wanted to ensure the major items were ready for renters.

What was the outcome?

cash flowing $700/month. With rental market increase we will see that number increase to $900/mo at end of year (2022)