Lyndora Pennsylvania Investment

[Brian Rensel]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $125,000

This property contains both a 4 bedroom, 1.5 bath single family residential home and a 34' x 34' commercial building. Both buildings are rented separately. I had to do a lot of remodeling on the home before it could be rented. I did all my own work on this particular investment.

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

It neighbors the home my wife and I live in.

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

Because this investment neighbors the home my wife and I live in we always expressed an interest in the property to the children of the previous owner. They always said they would contact me when there very elderly mother passed and they did.

How did you finance this deal?

Armco Credit Union used the positive equity in our personal home to 100% finance the investment.

Lessons learned? Challenges?

One of the biggest lessons learned and equally the biggest challenge is under estimating the amount of work the home needed.

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

I did the deal on my own.