Our First Rental Property!

[Laura Hunt]

Investment Info:

Single-family residence buy & hold investment in Laurel.

Purchase price: $85,000
Cash invested: $1,000

My father-in-law is selling us the house he inherited from his mother. It's an oldie but a goodie. He's doing the financing, so 0% down. Terms are being decided in a the next few days.

How did you finance this deal?

Seller financing.

How did you add value to the deal?

We will be remodeling the kitchen, floors, and (unfortunately) windows, next year.

[Laura Hunt]

@Joshua Mellor It is in Laurel, MT (right outside Billings, MT). 3 bed, 1 ba, 940 sq ft. Expecting $850/mo. We'll be remodeling it winter/spring 2021 and will be able to get 1000/mo.