A SFH buy and hold purchased during COVID

[Brandon B.]

Investment Info:

Single-family residence buy & hold investment in Detroit.

Purchase price: $34,000
Cash invested: $10,000
Sale price: $75,000

3 Beds x 2 Baths
923 Sq Ft

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

It met my investment criteria at the time.

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

I found this deal through Zillow. The property was in good condition. I purchased it during COVID-19. I made sure I seen the "rent roll."

How did you finance this deal?

Convention loan. 25% down payment.

What was the outcome?

Equity & Cash flow.

Lessons learned? Challenges?

Go bigger duplex, triplex, quad.

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

Navy Federal Credit Union will finance (when I purchased) an investment property as low a $10,000 with a conventional loan with a 25% downpayment.