first home in Houston

[Kevin Raju]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $216,500
Cash invested: $12,750

single family home, purchased w/ the intent of $50-$100 cashflow monthly. Property needed some TLC as it had some termite damage and active infestation at time of move in, got quotes from contractors to replace some studs but all quotes came in too high so ended up doing most of the work on the home myself which meant the home sat vacant until January 2025 at which point i placed on rental sites but still waiting for vacancy to be filled.

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

long term buy and hold is my strategy and i wanted a location that was close enough to DT Houston so it would be in a desirable location in terms of work/school. All other properties inside of the loop was out of my budget and the cash flow didn't make sense for the purchase price.

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

Found this deal via realtor that was not understanding of most terms for an investor friendly property.

How did you finance this deal?

conventional finance w/ 5% down and rest financed

How did you add value to the deal?

added value by improving defects such as termite infestation & upgrading amenities.

Lessons learned? Challenges?

main challenge currently is finding quality tenants that can go thru my screening process (600+ credit score, clean background check, etc.)