Deal #1 in Kansas

[Spencer Grooms]

Investment Info:

Single-family residence buy & hold investment.

1st buy and hold property. 1420 nw Van Buren st. Topeka, KS. 2 bed 1 bath. Renting $900 per month.

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

To build a rental property portfolio.

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

MLS. Asked below asking price. Was turned down at first but the owners wanted to take our offer a month later.

How did you finance this deal?

401K loan.

How did you add value to the deal?

Area being revamped slowly. Value add over time.

What was the outcome?

Good monthly cashflow.

Lessons learned? Challenges?

Would have rather bought something that needed some fixing so I could've brrrr'd. All my capital is wrapped up in owning this rental property.

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

Yes, Keller Williams.

[Daylen Fiallo]

@Spencer Grooms

Hi Spencer, congrats! How is that market doing?