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Updated about 5 years ago,
Investment 1 Sacramento
Investment Info:
Single-family residence buy & hold investment in Sacramento.
Purchase price: $284,000
This was my moms house and she didn't want anything to do with it and now I am taking over.
What made you interested in investing in this type of deal?
It was no money out of my pocket. I can start rehab on it and potentially get the equity up.
How did you find this deal and how did you negotiate it?
It was a family deal.
How did you finance this deal?
Bank Finance
How did you add value to the deal?
Kitchen and Bathroom repairs.
What was the outcome?
Still needs work.
Lessons learned? Challenges?
Do not rent to family. Get a security deposit no matter who it is that is renting. Hold the tenant accountable of the curb appeal.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Not yet.