First SFR Investment Property

[Danny Moreno]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $65,000
Cash invested: $68,000

First single family rental property. Many lessons learned . . .

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

Long-term wealth building

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

Friend referral

How did you finance this deal?

Private money and savings

How did you add value to the deal?

Full remodel

What was the outcome?

3 months of rehab, had a renter within 5 months, cash out refi within 6 months

Lessons learned? Challenges?

Too many to list . . .
Self-managing for now

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

Our realtor helped with listing and getting property rented. Our lender helped with the appraisal process and cash out refinance