First Rental Property

[Andy Gomez]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $14,000

Bought the property from a family of a deceased neighbor.
property was a 2/1 converted to a 3/2 with oversized storage in back yard and completely fenced in with 8ft chain-link.
Rented to family for first 4 years, and then in the process of rehabbing now for long term rental. contemplating refinancing now due to interest rate. looking into using private money for next deals and reinvest cash flow from this property.

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

Saw an opportunity and did not realize how much more there is to real estate.

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

was a close neighbors property with family out of state.

How did you finance this deal?

Cash deal.

How did you add value to the deal?

in process of rehabbing. previous owner added a bathroom and bedroom.