Buy & Hold | Oct 2021 - Present

[Max Prato]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $535,000
Cash invested: $40,000

Purchased in 2021 as a primary home in an A+ class neighborhood, single family residence that has a mother-in-law suite. Renovated and house-hacked, now have both suites rented out and cash flowing!

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

Found the property on the MLS, went to see the house and put an offer in for over asking. Seller was the real estate agent and my wife was my real estate agent so we had a strength of no middle-man in the transaction.

How did you finance this deal?

purchased through a conventional loan with 5% down and an extra point paid to get rid of PMI.

How did you add value to the deal?

Live in flip with $10,000 the main living area with taking walls down to make the space more usable.

What was the outcome?

Rented both units out to siblings who wanted both units at a discounted rate for a 2 year rental contract. Now have a cash flowing property at $325/month after all expenses and it's in an A+ class neighborhood so appreciation is key.