3 Beds 1 Bath 1100 Sq Ft

[Tim Andersen]

Investment Info:

Single-family residence buy & hold investment in Kansas City.

Purchase price: $99,000
Cash invested: $21,546

3 Beds 1 Bath 1100 Sq Ft Single Family Home in Kansas City

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

"Problem free", Turnkey Rental for appreciation and cash flow

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

Mailing list for turnkey investors

How did you finance this deal?

Conventional 30-year fixed at 4.5% with 20% down

How did you add value to the deal?

As buyer

What was the outcome?

This has not been a great investment in the short-term, but has done better with new property management in place.

Lessons learned? Challenges?

#1 ALWAYS attend inspections
#2 ONE deal at a time
#3 Turnkey kinda sucks -- all of the profit is given away on the purchase, and it takes forever to actually accumulate wealth

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

I have someone that I would NOT recommend