Long Term Rentals AZ

[Matthew Delapiedra]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $840,000
Cash invested: $145,000

This is a long-term rental. I picked up down the street from my primary residence. Very cool property. It has three separate parcels spread out over 1 acre so I currently have three tenants. I utilize the 2400 square-foot shop in the back for myself as my own personal office.

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

I was looking for a shop space for myself, I couldn’t find anything good on the commercial size, so I found this deal on LoopNet.

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

LoopNet

How did you finance this deal?

Cash

How did you add value to the deal?

I built out the 2400 square-foot shop, the structure was already there, I framed it, insulated it and added air conditioning.

What was the outcome?

Great value add

Lessons learned? Challenges?

I did a lot of work here, I should’ve really thought it through all of the front, and I could’ve saved myself some money and done a couple things a little bit differently.