First buy and hold rental

[Travis Sterner]

Investment Info:

Single-family residence buy & hold investment in Derry.

Purchase price: $18,000
Cash invested: $7,500

Owner financed. Buy and hold. Seller was vary easy to work with, he didn’t have the time to put into the property. Listed at 24k, I offered 18k with 5k down and 500/mo no interest. Added a full kitchen and fresh paint. Rented out quick to a great tenant. Probably will be paid of with OPM next year and cash flow nicely.

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

By Educating myself on RE investing I decided that buy and hold met my needs the best.

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

Found on Facebook, negotiated via texting.

How did you finance this deal?

Owner Financing

How did you add value to the deal?

New kitchen, paint and roof on back deck.

What was the outcome?

A nice rental in a good area.

Lessons learned? Challenges?

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