1st rental unit

[Corey Herron]

Investment Info:

Single-family residence other investment.

Purchase price: $100,000
Cash invested: $100,000

Bought this house and got 2 more free

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

I work in Graham and I have co workers that need affordable housing.

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

Found this deal through a realtor

How did you finance this deal?

Partnership, we paid cash.

How did you add value to the deal?

Minor remodel

What was the outcome?

Getting a return on the investment already.
The tenant just signed the 2nd 1 year lease agreement.

Lessons learned? Challenges?

No real lesson with this one just keep things simple. This lower income housing.
I let the tenant chose their rent due date and frequency such as weekly, biweekly or monthly. It’s in the lease agreement.

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

Not at this time.