Yuma Az Rental Experience

[Cameron Hodge]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $134,000
Cash invested: $25,000
Sale price: $162,500

Townhome in Yuma Arizona. Has a two car garage and two bed two bath.

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

This is my first investment property while in the military and purchased it as a second home. What's funny is it was the first property I ever purchased I never actually lived in my first property.

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

This property was a model home for the community. So we were able to get a two year builder warranty and reduce priced compared to other homes in the community by about 20 K.

How did you finance this deal?

We used a second mortgage and we were just shy of 20%. I was able to come up with 10% and managed to raise another 9% on top of that. Thankfully the PMI was removed a year later.

How did you add value to the deal?

We went in and install the garage door opener, refinished all the cabinets, and paint and furnished the property completely.

What was the outcome?

Overall we were able to cash flow between 500 and 800 per month average throughout the year. The property began as a short-term rental for 1.5 years and then switch to a normal tenant for the remaining years. I owned it.

Lessons learned? Challenges?

Overall, the challenge for us was making the drive from San Diego to Yuma while in the military. The challenge was setting up an Airbnb and managing it from another state three hours away. Overall I learned that short-term rentals are not for me, I am much more in tune with having a normal tenant or doing a lease option. Transaction for single-family residences. The great thing was this property right off the bat for being my first broke many limiting beliefs from buying my first rental, all th

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

I worked with Anthony De Luca. Amazing agent and really a go-getter when it comes to investment properties. If you want to be put in touch with them, simply send me a message and I'll connect you.