2 bedroom house rents for as much as a 3 bedroom house in the same area

[Allison Jung]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $115,000
Cash invested: $15,000

Purchased this home from a seller whose mother had to move back closer to family. 2 bedroom house about 900sf. Financed this with 20% down.

How did you add value to the deal?

We pulled out all the carpet, painted the walls and all the cabinets. Updated the appliances. Cleaned up the front and backyards.

Lessons learned? Challenges?

We posted pictures of the remodeled kitchen with new stainless steel appliances on Craigslist and the MLS for rent. The house was broken into and the appliances were stolen!

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

I represented myself in the sale.