Rental property investments

[David Esslinger]

Investment Info:

Single-family residence note investment investment.

Purchase price: $184,000
Cash invested: $5,000

Our first investment property! We bought this close to TJC and it rented out at 1800/mo 10% prop mngnt fees. It was scary and exciting. Took us wks to clean up yard and do some minor repairs inside. Rented out the second month that hit market.

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

I've always wanted to do rentals,but so many people would often say it's a bad idea, I talked to a guy that had several and said it's the best thing ever. So I ignored the negatively and proceeded with my dream

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

Realtor friend

How did you finance this deal?

Mortgage dept at local bank ANB-MP

How did you add value to the deal?

1% rule.

What was the outcome?

Making 400 a month after all loans and fees paid for by tenant.

Lessons learned? Challenges?

Keep learning and keep challenging yourself.

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

German "Alex" Mota, from longview Tx