Warrenton Va single Family purchase

[Phillip Brown]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $325,000
Cash invested: $72,000

Rambler on 1/2 acre in a good commuter location, near established rentals.

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

With the BP calculator, I knew it would cash flow well, and it is in a great commuter location that is experiencing good appreciation.

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

Found it through the MLS, offered on it within 2 hours of it being listed, set a timeline on our offer. Sellers accepted within 24 hours.

How did you finance this deal?

20% down conventional investor financing

How did you add value to the deal?

updated flooring and paint

What was the outcome?

Long term rental, mortgage is 1400. First year rent was 2250, second year rent has increased to 2500.

Lessons learned? Challenges?

This one worked out, but might be more weary of properties on septic as a long term rental.

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

I am licensed in this area, so I represented myself.