Single family home purchased 2002
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $102,000
Cash invested: $20,400
Typical of what we buy. 3 bedroom 1and half bath partially finished basement, 2 car garage in basement.
What made you interested in investing in this type of deal?
Steady long term cash flow. Tenant does maintenance and repairs just like they would with a bank mortgage.
How did you find this deal and how did you negotiate it?
MLS
How did you finance this deal?
Bank financing with 20% down.
How did you add value to the deal?
Offered a house for sale on long term lease with option to purchase. Tenant could not qualify for a bank loan.
What was the outcome?
Cash flow for 18 years with 2 turnovers. 2 months total vacancy.
Lessons learned? Challenges?
With current price appreciation in middle TN I have learned that I should have done a hundred more in 2002.