First Rental and had to get our feet wet.

[Todd Ayers]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $70,000
Cash invested: $14,459

This is a house my current wife used to rent when we were dating. I lived here for about a year and then we bought our first house. This one came up for sale, so we bought it.

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

We knew the house so it was easy to purchase and we had to start somewhere on our investment journey

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

The owner had just removed it from the market but responded to a message I sent her and said she was still willing to sell it.

How did you finance this deal?

I used a bank I currently bank with.

How did you add value to the deal?

She was asking $79,900 and I offered her $70,000 and I pay the closing costs which were $1500.00. Afterward it appraised at $76,000

What was the outcome?

We bought.