Single-family residence buy & hold investment in Huntsville, TX

[Patrick Lucas]

Investment Info:

Single-family residence buy & hold investment in Tampa.

Purchase price: $42,000
Cash invested: $15,000

Single family detached 2 bed/1.5 bath. Bought in spring of 2021. Renovated (mostly sweat equity) and rented with monthly cash flow of $570.

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

Property was a short-sale with quick renovations to rental potential.

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

Through MLS.

How did you finance this deal?

Investment loan with 20% cash down.

How did you add value to the deal?

Completed sweat equity flip and rented within a couple of months. Also built a relationship with local realtor that has since yielded further similar deals.

Lessons learned? Challenges?

Vetting and building relationships with local contractors is crucial. We live a couple of hours from the property and needed local people to lean on in emergencies.