Cash Flowing One Bedroom Unit in the Heart of Denver

[Erin Spradlin]

Investment Info:

Single-family residence buy & hold investment in Denver.

Purchase price: $185,000
Cash invested: $9,250

We own this furnished one-bedroom condo and rent it out to professionals that need a 3 month stay or more. Rent ranges between $1700-$2000/month.

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

It was a primary residence that we converted to an investment once we were ready to upgrade. We used the HELOC to acquire additional properties.

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

We found it through the MLS and it was a standard buy.

How did you finance this deal?

Conventional loan.

What was the outcome?

We continue to own this property, it cash flows between $2-00-$500/month and have great tenants (knock on wood.)

Lessons learned? Challenges?

This deal really helped me be more comfortable with investments and understanding the power of a HELOC. Because it was our first investment it was scary, but it's also helped us acquire 4 additional properties in the past 5 years.

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

We are the real estate professionals. :)