First purpose purchased rental

[Anthony O Cave]

Investment Info:

Townhouse buy & hold investment in Osceola.

Purchase price: $220,000
Cash invested: $20,000

3Br 2 Bath townhouse we purchased for long term rental. 90s/2000s builder grade inside nothing special but was ready to rent with a little paint. Wasn't the best purchase as I didn't know numbers as well then and just went off realtors opinion mostly. It does cash flow and has appreciated 40k in the time we have owned it so not horrible.

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

Had previously rented out a home we once lived in and wanted to get back into real estate

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

realtor

How did you finance this deal?

primary residence loan, we lived in the residence for a short time while we were waiting on new house to close.

How did you add value to the deal?

nothing yet. future plans include roof, flooring downstairs, update kitchen and baths

What was the outcome?

decent investment for the long haul. Knee jerked on purchase as I was tired of procrastinating and impulse bought it honestly

Lessons learned? Challenges?

know my numbers better and look for properties I can add more value to. Not buying in hoa community

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

Not really