My First Investment Property

[Tucker LaClair]

Investment Info:

Single-family residence buy & hold investment in Hooksett.

Purchase price: $221,000
Cash invested: $42,000

Beautiful, well maintained cape with brand new deck and fenced in backyard. Perfect for a young family that is looking to move to the Hooksett/Manchester area. 2 minutes off I-93 and very close to downtown Manchester.

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

First dive in to real estate and lived in the home while repairing and increasing the value.

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

Used a local realtor I was referred to through co-workers. Negotiated with an outside mentor and realtor.

How did you add value to the deal?

Added 16x14 trex/vinyl deck and side entrance staircase. New countertops and sink.

What was the outcome?

Home is now worth about $280,000 three years later.

Lessons learned? Challenges?

I learned how to list, show, screen and lease to tenants. I have had a few minor issues during the first lease year, but found the faster you respond to these situations the happier your tenants will be. My property is in a great location which attracted great tenants. Taking care of them promptly has enhanced their experience.