My first Turn-Key Investment, a SFR in Dallas

[Clay Gradis]

Investment Info:

Single-family residence buy & hold investment in Dallas.

Purchase price: $130,000
Cash invested: $130,000

A 4 bedroom 2 bath house in a decent family neighborhood in Dallas.

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

I want to build a portfolio of income-producing properties to ultimately replace my W-2 income.

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

Memphis Invest had this property available for purchase.

How did you finance this deal?

I used Roth IRA funds and bought it outright.

How did you add value to the deal?

Holding and renting.

What was the outcome?

I've had my current tenant for more than a year now, everything is going smoothly with this property.

Lessons learned? Challenges?

I don't think rental properties are the best use for tax-protected investments. I should have bought this property with my W-2 income and used this money to invest in Syndications or for private lending.

[Oleg Shalumov]

@Clay Gradis You could still open a HELOC and use most of the equity on this property if you want to "stretch my dollars into multiple houses". Just make sure the numbers makes sense to you.