Just sold a LTR property

[Heath Shepard]

Investment Info:

Single-family residence buy & hold investment in Boerne.

Purchase price: $300,000
Cash invested: $300,000
Sale price: $400,000

This was my first property and decided to sell it get access to its equity.

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

It was a good deal.

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

It was brought to me by a friend and property manager.

How did you finance this deal?

I paid Cash for it.

How did you add value to the deal?

I just maintained it, managed it myself and then sold it to the tenant.

What was the outcome?

I sold it directly to the tenant and didn't have to pay any commissions.

Lessons learned? Challenges?

Refinancing to get your cash out after paying cash for the property wasn't worth it. I tried to get some cash out but it ended up being very expensive and wasn't able to get very much cash out.