This was my first deal

[Walter Anderson]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $52,600
Cash invested: $10,899

My first deal, a small buy and hold in south Kansas City. Cash on cash 20.8%.

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

First deal wanted to get started only knew about buy and hold. I wanted to start getting cash flow.

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

Found a agent and found a house off of Trulia. My agent negotiated it.

How did you finance this deal?

20% down bank funding 5% interest.

How did you add value to the deal?

I really didn't, no repairs needed and it had a tenant.

What was the outcome?

Have had it for a year really no problems.

Lessons learned? Challenges?

This was a good straight forward deal, It could be flowing a bit more cashflow however I bought it with a good tenant that hasn't given me any problems and I got in the game.

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

I worked with Emanuel Blando and Breven Woydziak for my agents in Kansas City. They both own rentals and have helped me from finding tax people to getting the cheapest good guy to fix a roof.

[Jonathan R.]

3-5% is what Section 8 will allow you to raise the rent per year. You don‘t want to miss too many years without an increase or you‘ll be trying to catch up with inflation. Also, because the tenant only pays a portion it doesn‘t affect them much. No need to be predatory but do stay at or above market rent. Congrats on your deals! Repetition will get you to financial freedom. It can be exhausting but keep doing this again and again and again.