Updated over 1 year ago on . Most recent reply
First house; buy and hold
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $230,000
Cash invested: $70,000
Put 20% down on my first property, I lived there for a year while adding two bedrooms, 1 bath, and finished the basement by myself. Now I rent it out long term for close to twice the mortgage. Hoping to rinse and repeat!
What made you interested in investing in this type of deal?
I wanted to learn how to build and fix interior construction.
How did you find this deal and how did you negotiate it?
I was looking for a place close to the hospital and colleges.
How did you finance this deal?
Conventional loan.
How did you add value to the deal?
I added two bedrooms, a 3/4 bath, and finished the basement.
What was the outcome?
Better than I anticipated!
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Mike Miller - Real Estate Agent
Most Popular Reply
That's amazing! Congratulations on your successful investment, Wyatt! Finding a deal near hospitals and colleges was smart.