Jefferson Buy and Hold - Ready to sale or make drastic change

[Alesha Walker]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $200,000
Cash invested: $40,000

First investment property - higher end rental in my market.

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

Originally purchased as worker housing for another business but now use a rental.

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

MLS

How did you finance this deal?

Traditional financing - 15 year note at 4.5%

How did you add value to the deal?

Paint, basic cosmetic

Lessons learned? Challenges?

The taxes and insurance have tripled on this property and it is no longer viable. It is currently on the market for sale. TBD outcome. To sale right now would be a positive income because it appreciated 20% since purchase and I have several years of equity in it while it served as a rental.