First Rental Property

[Donny Hodgkinson]

Investment Info:

Single-family residence buy & hold investment in Oakland.

Purchase price: $270,000
Cash invested: $10,000

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

Primary Residence, did a live and flip.

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

Second house, was house hacking before then got married. Needed a place so we bought this property, updated it, then moved out after 2 years.

How did you finance this deal?

20% down, 30 year conv

How did you add value to the deal?

Cosmetic updates

What was the outcome?

Prime rental market, good quality tenants because of higher asking rent

Lessons learned? Challenges?

When buying, I let the seller run all over me with little asks here and there. He ended up taking advantage of me saying 'yes' to every request. Lesson learned

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

Yes realtors, feel free to ask and i will give you their contact info.