Primary into great cashflow

[Christina Tsutsui-Tharp]

Investment Info:

Single-family residence buy & hold investment in Prineville.

Purchase price: $245,000
Cash invested: $50,000

This was our primary residence that we are lived in for 6 years while we fixing up and renovating. 1963 farmhouse that was outdated and loads of half a$$ work and deferred maintenance.
We converted an existing shed to a 1 bed 1 bath apartment and now rent out the bigger house for great cash flow. Eventually we will rent out the apartment as well.

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

This was a primary turned investment

How did you finance this deal?

Conventional 15 year fixed

Lessons learned? Challenges?

Watch out for older homes with 'upgrades' because many might not be as good as you think.