Single Family Rental Property

[Brandon Saunders]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $185,000
Cash invested: $10,000

Single Family cottage in Old Hickory Village.

Under 1000 sqft - bought for 185k in 2018
Rent = $1650 > Mortgage = $1100

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

Passive Income Opportunity and long term equity growth

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

Finding a neighborhood with manageable homes suitable for first time buyers and renters

How did you finance this deal?

used THDA Grant with FHA 3.5% down payment. Refinanced and rented out 2 years later.

How did you add value to the deal?

Made offer 13k over asking (list price 172k)

What was the outcome?

Accepted offer and closed deal 30 days. Home worth 265 now.

Lessons learned? Challenges?

Don’t budge on negotiations

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

Myself and my current partner (father - Scott Saunders)