Updated almost 7 years ago on . Most recent reply
Building long term portfolio. Our second rental in a year.
Investment Info:
Single-family residence buy & hold investment in Vancouver.
Purchase price: $220,000
Cash invested: $8,000
We just purchased this home. It is our second rental. Positive cash flow immediately.
What made you interested in investing in this type of deal?
We want to build a long term portfolio fr retirement.
How did you find this deal and how did you negotiate it?
I am an agent, I was called to go on listing appointment, I offered them a deal, and gave them 2 months free to move out.
How did you finance this deal?
Regular rental financing. 20% down.
How did you add value to the deal?
It needed to be cleaned up and painted.
What was the outcome?
It appraised as is value while we were purchasing it at $250,000, we are holding it.
Lessons learned? Challenges?
none yet
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am the agent. But I used Columbia Credit Union for financing.