SoKno Single Family LTR

[Chris Davidson]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $63,000
Cash invested: $75,000

Purchased off market SF house, installed windows and siding and gave the inside some loving and rented originally for 750/ month in 2017. Just renewed in 2022 for 1450/month.

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

Fits our strategy of long term hold in the path of progess

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

Called FSBO sign, and negotiated with owner directly while on lunch break from W-2 job.

How did you finance this deal?

Cash

How did you add value to the deal?

New Windows, Siding, Paint, and refinish Hardwood floors.

What was the outcome?

Still in the portfolio building equity and cash.

Lessons learned? Challenges?

Paid out contractors too early and really had to keep on them to finish windows. Tired redoing driveway and realized somethings are better to hire out.

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

Title company. (the seller forgot he had a second on the place and had to pay to close it). Always use title and escrow for full close and do your Due diligence. Also Inspector.