Learning Long Distance Renting

[Melissa Moore]

Investment Info:

Single-family residence buy & hold investment in Youngstown.

Purchase price: $9,000
Cash invested: $15,000
Sale price: $13,000

3 bedroom and two car garage. Purchased from a realtor onsite.
Kitchen needed a full remodel. Bathroom needed updates: shower panel, hardware, vanity. Painted exterior of house "Crabby Apple" by SW.
Sadly, the bushes were dead and had to be cut down.
We have a family renting from area on Section 8 for $600 a month.
Renters moved in OCT 15 2018

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

on realtor.com and agent put offer in.

How did you finance this deal?

Through investor. Cash buyer.

Lessons learned? Challenges?

Challenges were contractor stole flooring material and payroll. Learned to see DAILY progress photos before payment. So you can really gage the outcome and time spent and money spent. Pay for project total, and in milestone payments.