Townhouse Primary Residence Turned Rental

[Jonathan Small]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $120,000

This is a townhouse we purchase as a primary residence. 3bd, 2.5ba,

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

We purchased this townhouse as a new build and our primary residence.

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

We found this deal using the MLS. The builder offered help with closing cost.

How did you finance this deal?

We financed this deal using a fha no money down loan.

How did you add value to the deal?

We keep the property well maintained. We self manage this property.

What was the outcome?

This is a long term hold property. Or tenant is DCA and has been with us for about 15 years.

Lessons learned? Challenges?

This property is not in the best area. However, over time the property has doubled in value and we have significantly paid down the loan.

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

No