Buying my first house then converting it to a rental property.

[Jake Blickenstaff]

Investment Info:

Single-family residence buy & hold investment in Villa Rica.

Purchase price: $107,000
Cash invested: $10,000

Bought in 2014 to live in and it needed upgrading. Over the course of 4 years I worked on the property room by room. Then I took a job elsewhere and decided to rent it out.

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

Bought in 2014 to live in and it needed upgrading. Over the course of 4 years I worked on the property room by room. Then I took a job elsewhere and decided to rent it out.

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

Property was originally listed for sale on the MLS.

How did you finance this deal?

FHA then refinanced to conventional.

How did you add value to the deal?

Upgraded flooring throughout house, appliances and paint.

Lessons learned? Challenges?

I learned that I hate removing popcorn ceilings. haha

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

No.