First Rental Property

[Ryan Schwarz]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $220,000
Cash invested: $45,000

This is a 2 bedroom, 2.5 bathroom rental that I purchased. It has ample basement living space, that the tenant uses as a third bedroom.

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

I wanted to get into my first rental property.

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

I found this deal from being a local.

How did you finance this deal?

I saved up from my W2.

How did you add value to the deal?

I redid the cabinets, repainted and replaced all the windows.

What was the outcome?

I'm renting it out.

Lessons learned? Challenges?

I found it better to source a renter myself.

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

No.