Single Family Rental

[Michael Marden]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $156,000
Cash invested: $25,000

Rental Property near community college

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

Was originally going to rent it to a family member. Now I realize the Cashflow and Longterm appreciation and want to buy more.

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

At the time my friend wanted to get out and offered to sell it to me.

How did you finance this deal?

Took out equity from my primary residence.

How did you add value to the deal?

Lowered the price $30k from list price.

What was the outcome?

I still own it with $125k owed a value of approximately $300k.

Lessons learned? Challenges?

1- I should have already purchased more on the same street.
2- I need to find a property manager to maintain and respond to repairs, as I am too busy.