My first real estate investment

[Matt Wallington]

Investment Info:

Single-family residence buy & hold investment in Trussville.

Purchase price: $157,000
Cash invested: $40,000

- Bought it for 157k with the sellers cutting me an 8k check at closing to go towards repairs and upgrades.
- 20% down plus closing costs and repairs was roughly 40k
- Currently renting it out for $1400/month
- cashflows roughly $500/month before cap ex., vacancy, maintenance

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

Monthly cashflow

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

Found it on the MLS

How did you finance this deal?

Conventional 20% down

How did you add value to the deal?

Cosmetic changes (flooring, paint, light fixtures)

What was the outcome?

Have had it rented out since 8/1/18