My first rental property - Single Family

[Derrick Wortman]

Investment Info:

Single-family residence other investment.

Purchase price: $44,500
Cash invested: $3,000

This was my first rental. Purchased as foreclosure, fixed it up and started renting it February 1st 2019.

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

Youtube video's mostly from Bigger Pockets.

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

Zillow, contacted a realtor.

How did you finance this deal?

Cash down with 15-year mortgage.

How did you add value to the deal?

Invested $3,000 into kitchen and bathroom remodel.

What was the outcome?

Renting for $800/mo mortgage $400/mo.