Purchase of May 2022

[Richard Luyster]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $129,000
Cash invested: $18,295

SFH 3 Bed / 1 Bath with full basement, used as a residence for my daughter and her college roommates. She lives rent free and we turned her previous house hack into a full-time rental which is paying for her college.

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

I have come to like SFH the tenant pays all utilities, mows lawn, etc... once setup with good tenants they are like little oil wells just pumping out cash.

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

Zillow. At the time there was no negotiating houses were going within 12 hours.

How did you finance this deal?

conventional loan with daughter on lease as owner occupant.

How did you add value to the deal?

lots of roommates, I do all moderate rehab and fixes. My daughter handles the day to day issues.

What was the outcome?

still ongoing

Lessons learned? Challenges?

always follow the numbers and have reserves.

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

Mendee Burnside - Cutler Realtors of Canton/Akron Ohio