My First Investment Single Studio

[Ken Wicks]

Investment Info:

Single-family residence buy & hold investment in Atlanta.

Purchase price: $74,500
Cash invested: $12,000

Single studio apartment. Did not work out with the first renter however, I have found my stride and now have a great renter.

Looking to hold this long term as it is a great value within the city of Atlanta which lacks affordable single-occupant housing lacks.

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

It was a great deal and since I lived so close to the unit it made sense. Being in an apartment community I felt that the maintenance would be easy. This unit was essentially investing with training wheels.

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

Found it from a friend who was renting in another unit that the owner had. I ended up buying this unit as well.

How did you finance this deal?

Conventional

What was the outcome?

Great so far

Lessons learned? Challenges?

Our first renter I did not background check enough. It was easy to get them to leave as I offered cash for keys.