1st Investment Property

[Matt Fuhrken]

Investment Info:

Single-family residence buy & hold investment in Columbus.

Purchase price: $81,500
Cash invested: $22,000

Two Bedroom and One Bath with approx. 1,000 sf of living space with updated tile in kitchen and bathroom.New carpet Fenced, backyard for pets or entertaining. Screened porch

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

low entry price with decent rental rates, allowing for a cash flowing investment out of the gate.

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

Realtor in the area brought it to my attention before it was posted on MLS.

How did you finance this deal?

Personal funds and Conventional loan.

What was the outcome?

(Closing on deal on 05OCT19)

Lessons learned? Challenges?

Market is very up and down, figuring out appropriate appraisal was made difficult due to the area.
BEWARE: Not all property managers in area do background checks on potential tenants!

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

Kevin LeRoy (broker), Kyle Profit (Agent) and Buck Hamilton (Property Manager)