This is my first Rental property.

[Brian Baker]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $156,000
Cash invested: $57,182

This is my first Rental property. I made a video on all the details here: https://youtu.be/etPNkEj4VK4

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

I really just wanted to get my feet wet and do a deal. I learned a ton and at the end of the day, my money is invested in an appreciating asset that is cashflowing.

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

I found it off the MLS. Pretty plain vanilla. I negotiated based on property condition. All my numbers lined up and it was a viable deal, not a slam dunk, but something I have potential exit strategies for if the need arises.

How did you finance this deal?

Conventional Mortgage

How did you add value to the deal?

I did some work on the house to update it. I made a video on all the details here: https://youtu.be/etPNkEj4VK4

What was the outcome?

It has a happy renter and I get checks in the account monthly.

Lessons learned? Challenges?

Right now, accessing the equity in the property. Texas has some laws against HELOC's on investment properties that I was unaware of. That has me a little stumped at the moment, but I'm hoping to find a work-around.

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

Absolutely. My realtor was Donna Baker, a New Braunfels Based realtor working with JB Goodwin.