My First Rental

[Daniel Mancini]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $250,000
Cash invested: $50,000

"The first deal is the hardest" This was my first purchase after indecision led to me not offering to purchase my brother's home when he was selling.

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

This was a townhome neighborhood with no HOA in good shape which helped cashflow significantly day one.

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

We won this deal during the bidding wars of the pandemic. Went against nine offers and ended up winning the business with a quick close and the help of a great agent

How did you finance this deal?

Conventional. Looking back, I would've put less money down to increase cash on cash return but the only thing I remember about this deal was how scared I was to take that first leap of faith

How did you add value to the deal?

I didn't, it was turnkey

What was the outcome?

Still hold today. Cashflowed since day one and have raised rent 3 times since then. Find great tenants.

Lessons learned? Challenges?

Again, find great tenants and treat them well.