My SFR Investment and first rental

[Dawn Matze]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $395,000
Cash invested: $150,000

5 bedroom/3 bath with pool/double car garage

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

I could see the appreciation value, good school district, very nice family neighborhood, close to shopping, wide streets. Even though I dont want to sell it, I could see that increase in value would give me opportunities with this property.

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

I found this through an agent/friend. It was on a foreclosure and I had to pull strings to make it happen. It took a long time to close and I bought it as is.

How did you finance this deal?

I financed through a traditional broker/bank

How did you add value to the deal?

Remodeled it, new cabs/ flooring/paint/pool plaster/ front door/ master shower/ kitchen slab counters/appliances
75K

What was the outcome?

It has been a great rental, the renter doesnt want to ever leave.

Lessons learned? Challenges?

Wouldnt buy a rental with a pool, just more to take care of. Only wish I bought more homes in this area

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

Worked with agent and a foreclosure specialist. Also a broker