My first rental property in Hanover Park, IL

[Sean Morrisey]

Investment Info:

Single-family residence buy & hold investment in Hanover Park.

Purchase price: $121,000
Cash invested: $3,630

Entry level "buy and hold" investment in Hanover Park, IL. 2 bed / 1 bath at $985/month.

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

My first investment property! I was able to leverage the deal with $3600 out of pocket.

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

MLS...negotiated with Realtor.

How did you finance this deal?

First home homebuyer finance plan offered by DuPage Homeownership Center.

How did you add value to the deal?

Updates to property made in 2007 but was provided fairly turnkey.

What was the outcome?

Still renting it!

Lessons learned? Challenges?

Had a few evictions over the first four years. Other than that, it has been an easy rental to manage.