My First Mid Term Rental

[Emanuel Blando]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $155,000
Cash invested: $40,000

Mid Term Rental in Kansas City. Fully furnished and rented to traveling nurses.

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

Higher cash flow than longer-term rentals.

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

I found it on MLS, Back on the Market after another buyer fell through. I got the seller to pay closing costs by negotiating in lieu of repairs needed. I was able to complete those repairs for much less than the closing costs received.

How did you finance this deal?

I used a DSCR loan product.

How did you add value to the deal?

I did minor cosmetic updates and fully furnished the property.

What was the outcome?

A nicely cash-flowing property with a good equity position.

Lessons learned? Challenges?

Deals can be found in HOT market conditions if you know where to look and how to negotiate.

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

I represented myself as a locally licensed Agent.