My first Investment Property - 20 Dublin Mews, Woodstock

[Fred Marshall]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $15,000
Cash invested: $10,100

Small 2/1 in a poor neighbor hood. Had some very bad tenants at times and needed to rehab twice already.

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

Got interested in rental properties and this was a really cheap buy at the time. It has provided a positive cash flow withing no time, but then cost me loads on rehabs due to low quality tenants and not living close to the property for many years.

Good cash flow is what interested me the most.

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

Saw the property in an estate agents window. There was no negotiation - bought it at asking price (first property)

How did you finance this deal?

Bank

What was the outcome?

Have a property that is cash positive and almost paid off. Have good equity and through improved remodeling the quality of the tenants has go up

Lessons learned? Challenges?

Pick better neighborhoods to buy in
Do tenant scanning prior to allowing access
Do annual assessments on the property