College Town Rental

[Kara Beckmann]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $216,000
Cash invested: $15,000

I purchased my first rental property in Tempe, AZ just 1 mile away from the main ASU campus. I turned this 3 bedroom house into a 4 bedroom to have the advantage of increasing the rent, as well as updating the flooring, paint and plumbing fixtures. The house next door sold this past year $129,000 more than what I purchased this home for. I am planning on refinancing this year (2019) to pull money out to re-invest.

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

This was an off-market deal that came to me from the friend of a friend. I was interested because this was a lower price point than my investments have been in the past and I saw value that it was so close to ASU.