Real estate retirement fund

[Richard Angelo Bettencourt]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $156,000
Cash invested: $53,000

A small outdated single family home we purchased in 2021, then remodeled and is now being used as a short-midterm lease with an average minimum of $2,800 in monthly cash flow.

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

We we're looking for homes in a particular zip code and price point.

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

MLS through a realtor contact

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Bought a unit below value that was outdated

What was the outcome?

A property that has almost doubled in value in 2 years

Lessons learned? Challenges?

Long term leases were more challenging than the shorter terms

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

I purchased this unit with the help of my mentor in real estate and as part of my plan I've now become that trusted advisor.