Rental Hold Rockwall

[Will Havens]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $425,000
Cash invested: $110,000

Bought a house for 425,000, it appraised for $487,00. Put in new floors and new paint. Will be refinancing in May 2023 after the new appraisal is done.

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

The HOA includes a membership to a private country club.

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

Through the MLS

How did you finance this deal?

Started a portfolio loan with my lender.

How did you add value to the deal?

Replaced all carpet with laminate and fresh paint.

What was the outcome?

Looks like a completely new house. After there is cash flow from rental, I will refinance. From the cash out I will hope to redo the kitchen as well as HVAC.

Lessons learned? Challenges?

Getting a house for rent during winter is a lot harder than during spring/summer.

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

I am a realtor/investor in DFW and Houston.