1st single family investment

[Bryan Wallace]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $55,000
Cash invested: $11,000

3 bdrm 1bath

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

I stumbled into single family investing by accident. We had a house fire that was a complete loss (personal residence), and we could not find a place to rent anywhere. Thats when i first realized there was a need for rental properties in our area. We purchased this home while we were building our current home.

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

It was a FSBO listed on FB. I knew the area and could see it was a good deal.

How did you finance this deal?

Conventional Financing through a local bank.

How did you add value to the deal?

Negotiated them leaving all the appliances including the washer/dryer. When we rented the home to our first tenant we were able to rent it fully furnished.

Lessons learned? Challenges?

Still learning!