Miramonte Rental House

[Joseph Cooper]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $255,000
Cash invested: $54,000

1200 sqft 2 bedroom 2 bath 60x18 garage/spare room

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

This was the cheapest house in the neighborhood in the past 10 years. The large garage has potential to convert to an ADU

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

Realtor.com

How did you finance this deal?

Conventional

How did you add value to the deal?

Not much. New heating and air included in deal paint and fixtures

What was the outcome?

Rented 100/mo cash flow

Lessons learned? Challenges?

Preparation is key. Closed in 20 days

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

Colleen Henninger Leana Teschner