First house; buy and hold

[Wyatt Webster]

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

[Dina Nicasio]

That's amazing! Congratulations on your successful investment, Wyatt! Finding a deal near hospitals and colleges was smart.