Dallas single family

[Alex Kosley]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $360,000

First primary home bought prior to pandemic, buy to hold and currently renting to first tenants on a 12 month lease with potential to extend to 18 months.

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

Moved to a new primary home to a better neighborhood we plan to stay in long(er) term with better schools. When originally bought it is in a good and growing neighborhood (many flips, etc.) appreciating well and is the entry level neighborhood of the greater neighborhood - good rental opportunity for young families and proximity to city.

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

Standard young first time home buyer, found it on zillow/realtor. Thought it was good value after tracking the neighborhood for awhile, offered just below list and asked for the fridge, dining room table/chairs and all outdoor patio furniture/TV.

How did you finance this deal?

Contacted many lenders having no clue what to do, went with the best option after learning through discussions. Ended up being a portfolio 10 yr ARM, we did not intend to be there that long and knew the area would appreciate. I would have done a 30 yr except likely we will refinance anyway to cash out at some point, or best case, pay it off at the 10 yr.