UK Rental 3bd 2bth

[Josh Cocker]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $122,000
Cash invested: $31,000

*UK HOUSE* Purchased a 3 Bed 2 Bathroom Town House Style House in the UK from sellers who inherited the property, worked a very good purchase price in terms of value. Rehab wasn't too strenuous and i did myself with the help of my family - Re landscape garden, painted inside, re grouted bathroom tiling etc to freshen up. Rented it from September 1st 2018 + and has been a great rental ever since. I moved to the US in 2018, but my plan was to keep adding 1/2 single family's a year. When i arrived in the US i wasnt able to get funding due to lack of credit history as an overseas citizen.

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

3 Bed 2 Bath appeals to a large segment of the public, and ideally a family - ussually they stay for longer in the property.

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

MLS in the UK - negotaiated over a few weeks and tried not to get emotional on the purchase.

How did you finance this deal?

25% down payment and Buy-To-Let financing

How did you add value to the deal?

Purchased under market value, then rehabed myself with sweat (i am not the most talented DIY guy haha)

What was the outcome?

Achieved a rental rate stronger than i initially anticipated, and it was rented 3 days after being listed.

Lessons learned? Challenges?

Find the right house / property, and stay firm on the pricing you offer. If the price is above your number then it is not meant to be

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

Yes, Real Estate broker in the UK, and lender who specialized in buy-to-let (investor style) loans