My 1st Investment Deal

[DJ Snow]

Investment Info:

Single-family residence buy & hold investment in Houston.

Purchase price: $64,900
Cash invested: $6,847

This was a great investment with a 10-year interest only loan which allowed it to be rented at 900-1100/month for more than 11-years. The extra money allowed for future investments while covering all maintenance, etc.

Relax and enjoy the patio with family and friends. Two car garage and space for your washer and dryer. Great location Near Westpark Toll & energy corridor.

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

It was a great first home for the summer and rental property while I was away.

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

A realtor

How did you finance this deal?

Traditional financing w/ 10-year interest only

How did you add value to the deal?

Upgraded the property with granite, new appliances, carpet, and paint.

What was the outcome?

Great 11-year rental income before selling when the Houston market began to take off.

Lessons learned? Challenges?

I sold too soon and left money on the table. There weren't really any challenges. All renters were well vetted and worth the 10% the property manager charged. Since this was my first deal I was really lucky and had no real issues but have learned over time that I made a ton of mistakes. It would have been beneficial to know about BiggerPockets during past deals.