Gold mine for investments in Texas!

[Mark Mazzucco]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $145,000
Cash invested: $15,000

I bought a primary purchase that came with a guesthouse that was already bringing in $900/mo from a tenant. So basically was covering the $1,000 mortgage. After renovations I increased rent to $1,100 and then moved out to provide another $1,400 making it $2,500 per month on a $145K purchase!

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

The cash on cash return with a renter already in the space.

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

I found out by finding an off market deal with realtor friends

How did you finance this deal?

Portfolio loan

How did you add value to the deal?

I renovated the space and outside.

What was the outcome?

Increased rents by over 10%