First home turned rental.

[Daniel Kroll]

Investment Info:

Single-family residence other investment.

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

First home, primary residence. Turned into rental, self-managed for first 2 years. Then switched to a management company; Jar of Clay.

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

It served two purposes. Primary home for a season then passive income.

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

Zillow.

How did you finance this deal?

20% down, 3O year fixed rate mortgage.

How did you add value to the deal?

Repainted interior. Fixed windows. Re-did the stairs. Upgraded lots of things in the kitchens.

What was the outcome?

Still renting it. So far so good.

Lessons learned? Challenges?

Stick to "best practices" when selecting tenants.

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

Jars of Clay Property Management company.