Single Family Buy & Hold in Syracuse, NY

[Greg Miller]

Investment Info:

Single-family residence buy & hold investment in Syracuse.

Purchase price: $74,000
Cash invested: $23,000

Trying out my first single family rental in Syracuse, NY (Eastwood). Purchased off MLS in December for $74,000, 15 year fixed conventional mortgage with 25% down. Rented out in mid-January for $1125. Hoping for longer tenant duration, less intensive maintenance, and more potential appreciation.

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

Low maintenance, trying out a single family investment

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

MLS

How did you finance this deal?

Conventional financing, 25% down

How did you add value to the deal?

Cleanup, cosmetic upgrades, light paint

What was the outcome?

Leased for $1125/month on 15 month lease