First Long Term Rental Purchase

[Vijay Radhakrishnan]

Investment Info:

Single-family residence buy & hold investment in Alexander.

Purchase price: $150,000
Cash invested: $37,500

Turn-key long term rental in Akron, OH

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

The Akron market has good fundamentals. I also found a great property manager and rehabber there.

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

Rent to Retirement helped me find this off-market deal. They are a turn-key real estate investment group and great to work with!

How did you finance this deal?

Conventional financing

How did you add value to the deal?

The property was turn-key, may make some additions in the future.

What was the outcome?

A turn-key rental added as the first of many to my real estate portfolio!

Lessons learned? Challenges?

Learned a lot about the process while property is under contract (coordinating home inspections, appraisals, getting documentation to the lender, etc)

I should have locked in my interest rate two weeks ago before they shot up recently!

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

Rent to Retirement and Steve Yoak out of Akron, OH