Rental Properties... worth the time and effort!

[Ronis Gutierrez]

Investment Info:

Single-family residence buy & hold investment in Crestview.

Purchase price: $208,000
Cash invested: $1,000

A gorgeous single family home with 3 bed/2 bath, plus a bonus room. It also offers a two-car garage and is located within 20-30 minutes from Eglin AFB, Duke Field AFB, and the 7th Special Forces Group compound. In an HOA community and very well maintained.

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

Location, type of construction, school zone, and the possibility of good equity accumulation.

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

Asking questions and looking at different neighborhoods in the area; negotiated it directly with the builder and saved over $15,000, to include closing fees.

How did you finance this deal?

VA Loan.

How did you add value to the deal?

There was no need to add anything to it, the house was brand new. However, will probably do some improvements to it, if I decide to rent again within the next 365 days. Currently under a new 1-year lease/agreement with an option to buy offer.

What was the outcome?

Buying a property I lived in for over 5 years then turning it into Rental Property after I moved.

Lessons learned? Challenges?

It was great doing everything myself, gathered a vast amount of experience which has significantly impact the way I maneuvered toward my second deal.

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

I did not.