Own then lease single family home

[Teresa Grim]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $160,000
Cash invested: $5,000

Turned my first home into rental when purchased second home.

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

Great house, great appreciate, didn’t need the cash from sale.

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

Bought from builder, property manager found tenant.

How did you finance this deal?

FHA initially then refinanced to traditional 15 year

What was the outcome?

Same tenants in the house, just signed lease renewal to stay total of at least 3 years.

Lessons learned? Challenges?

A good property manager can save novice investors from novice mistakes.