Introduction to Real Estate Investing

[Christopher L Young]

Investment Info:

Single-family residence buy & hold investment in El Paso.

Purchase price: $110,000

1st purchase; 3/2 New construction

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

Initial investment; Intro to REI

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

Searched for last units available from spec builders in the area; negotiated upgrades and landscaping for $3k under asking

How did you finance this deal?

VA Loan

How did you add value to the deal?

Upgraded landscaping and had concrete patio added to back yard

What was the outcome?

Quick & consistent rental history as leases usually end in summer; prospective tenants enjoy outdoor seating/patio area

Lessons learned? Challenges?

Over-improved yard; Too low on rent amount (initially concerned with getting renters in, neglected cash-on-cash return)

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

Debbie Toothman w/ Century 21: great agent