Getting my feet wet again with another training-wheels property

[Ken Wicks]

Investment Info:

Single-family residence buy & hold investment in Atlanta.

Purchase price: $78,500
Cash invested: $12,000

Bought a single occupancy studio apartment that will be rented out.

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

The property is the same as my first rental. I bought this one as well because the numbers worked out and I can keep an eye on it as I learn the property management business.

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

Same as my first property, it was off-market and I found it from a friend of mine.

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Bought undervalue, planning on doing some improvements to the property as the years go by.

What was the outcome?

Good so far

Lessons learned? Challenges?

Just bought, fees expanded a little when my partner and I purchased so our immediate profit eroded a little.