Single Family Rental

[Sarah Akin]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $80,000
Cash invested: $18,000

3 bed, 2 bath, 1 car attached garage single family home, 1200 sq ft, not fancy but solid built.

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

While not a home run deal, still, with conservative numbers, I'm pleased with $80 a month in cash flow after saving 15% for expenses and 10% on management. This property is an hour and a half away from me so I wanted to have it managed from the start, however this is my first time using a management company. So far so good! I took a lot of time getting to know the management companies in the area, 4 companies, and the one I went with is not the cheapest, but the one I trust the most.

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

Located on Zillow, asking price was 84k, I offered 79k knowing I was willing to pay 80k, they countered with 80k, seller paid closing costs.

How did you finance this deal?

conventional 30 year mortgage.

Lessons learned? Challenges?

I looked at 7 houses before I landed on this one. I made my focus on a solid build over trendy.

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

I did work with Laura Eastwood with Eastwood Realty and will work with her again, very knowledge able in her area, quick response time, very transparent and honest.