The story of Templar Properties!

[Tyrel Templar]

Investment Info:

Single-family residence buy & hold investment in Canyon.

Purchase price: $155,000
Cash invested: $40,000

5 acre tract with 1 4/2 single family, 1 3/2 mobile home and 1 2/2 mobile home. Specializing in rural college student rentals with horses/pets.

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

I see a need for rural rentals for agriculture and rural students who like to live outside of town and have their horses and pets come to school with them.

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

I bought the land with the house and larger mobile home as my first home FSBO. I immediately rented the mobile home. The property needed a ton of work I had a friend invest his money into my property and refinaned once the repairs were made.

How did you finance this deal?

Initially private money and refinanced FHA after repairs

How did you add value to the deal?

The rental income from day one was what made this all work.

What was the outcome?

Moved out of the 4/2 about 5 years ago and have since kept the property as a rental investment. Currently in the process of adding the 2/2 mobile home to the land and increasing my door count.

Lessons learned? Challenges?

Proper tennant screening and ongoing tennant "training" is vital especially the training with college students who are often first time tennants. Clear expectations and the gumption to move on a deal are vital!