Rental Property #1 -- Schmidtknecht

[Heather Schmidtknecht]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $114,000
Cash invested: $20,000

3 bedroom, 2 bathroom SFR
Rents for $1000/month

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

Most of rental property in this area is targeted toward students and not as *nice* as other renters may desire.

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

Realtor.com -- I worked with a realtor who is also an investor, which was very helpful. It was listed at $116,900 and after negotiating, we settled on $114,000.

How did you finance this deal?

I put 15% down in cash and borrowed $96,000 from the bank.