Single Family Rental Property

[Aaron Poling]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $150,000
Cash invested: $30,000

Single Family Rental Home, was also able to split off a Quarter Acre Building Lot from the main parcel

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

Three bedroom, two bath home is popular in this area. Ideal for resale and rental.

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

Friends of the owners daughter, given first opportunity to purchase

How did you finance this deal?

Commercial Loan from Local Bank

How did you add value to the deal?

Splitting off a separate building lot.

What was the outcome?

Still own the property, and getting ready to build on the lot.

Lessons learned? Challenges?

Purchased at the height of the market in 2006 but because I purchased off market and it needed work the deal was still worth doing.

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

My father assisted me in the purchase