MY FIRST REAL ESTATE INVESTMENT!!!

[JJ Buckner]

Investment Info:

Single-family residence buy & hold investment in Independence.

Purchase price: $81,500

Cash invested: $25,000

Purchase Price: $81,500
Down Payment: 25% ($20,375)
Closing Cost: ~$5,000

Rent: $950 (Expected, close in June)

30 Year Mortgage w/ 5.125% Rate
Property Tax: ~$850 annually
Insurance: $755 annually
Vac/Repairs/Capex: 21% of Rent (~$200/month)

Monthly Cash Flow: ~$210/month

CoC Return: ~10%

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

I want to build up enough cash flow to be Financially Independent and I feel RE is the fastest way I can get there.

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

Found this deal on the MLS and had a realtor

How did you finance this deal?

30yr fixed conventional

How did you add value to the deal?

Still in the process, the wife and I will be driving to Kansas City for closing to do some repairs and improvements to help increase rent.

What was the outcome?

Got through inspections, now just waiting on appraisal before closing.

Lessons learned? Challenges?

Should have done this a long time ago...

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

YES!
Real Estate Agent: Ariel Rank with RE/MAX
PM: Teresa Penner with Penner Property Management