Rental property credit repair

[Andrew Horan]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $170,000
Cash invested: $65,000

First loan used to buy this property. FHA loan. High interest while I work on credit.

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

Cash flow, credit repair.

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

Zillow.

How did you finance this deal?

FHA loan.

How did you add value to the deal?

Finished the basement.

What was the outcome?

Cash flow $750 monthly

Lessons learned? Challenges?

The mortgage process can be extremely complicated and transparency is a must.

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

Equity prime mortgage is recommended they helped me.