First Rental Property

[Alfonso Hernandez]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $40,000
Cash invested: $45,000

2 bed, 2 bath brick home. Located in Mesquite right behind the Mesquite Rodeo.

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

It was a great deal to start investing. I had no money so I had to get creative to make the deal.

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

Found it by word of mouth, we negotiated the the deal with a cash offer.

How did you finance this deal?

Borrowed the money

How did you add value to the deal?

We did a full rehab, new paint, flooring, cabinets, countertops, fixtures and appliances.

What was the outcome?

I was able to raise the rents and get better tenants

Lessons learned? Challenges?

It’s important to use the right trades, my biggest challenge was to find the capital to be able to do the repairs.