First Buy and hold investment

[Mark Mitchell]

Investment Info:

Single-family residence buy & hold investment in Crestview.

Purchase price: $80,000
Cash invested: $27,000

2/1.5 SFR. Townhouse.

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

Strategy is to buy and hold for cash flow in retirement.

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

FSBO sign.

How did you finance this deal?

Conventional loan, 20% down from cash.

How did you add value to the deal?

Added backyard fence, new flooring replacing carpet. Minor painting. Repair to stairs.

What was the outcome?

Ready for renting Jan 2019.

Lessons learned? Challenges?

Buying turnkey isn't necessarily turnkey.