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Updated about 5 years ago,
Single Family investment
Investment Info:
Single-family residence buy & hold investment in Mission.
Purchase price: $98,000
Cash invested: $37,000
Sale price: $102,000
Aprox 1,200 sqft single home built in 2000, 4 beds / 2 baths / 1 car garage. Close to a Mission high school.
What made you interested in investing in this type of deal?
Property is located in a convenient area in Mission, TX. From my real estate agent I knew current rent was low and I could easily ask for more once a little TLC was done.
How did you find this deal and how did you negotiate it?
Through my real estate agent
How did you finance this deal?
Own money
How did you add value to the deal?
Changed floor from vinyl to tile and kitchen countertop from formica to quartz.
What was the outcome?
Around 8% cash on cash and around $200 in cash flow
Lessons learned? Challenges?
Having a trusted realtor and lender helps a lot to close a deal with less issues.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Real Estate Agent, Arlen Gracia
Mortgage Agent, Edgar Hernandez