Long term rental in Wichita

[Priscilla Swantner]

Investment Info:

Single-family residence buy & hold investment in Wichita.

Purchase price: $106,000
Cash invested: $22,000

3 bedroom, 2 bathroom. Twin home (one side of a duplex). Turnkey property.

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

I was referred to a friend who works the market and I negotiated through the agent.

How did you finance this deal?

Conventional financing for investment property.

How did you add value to the deal?

I did not. It was turnkey.

What was the outcome?

14% cash on cash with cashflow of $350 after all expenses paid.

Lessons learned? Challenges?

It's important to have open communication with your team when buying out of state and you've never been to the market. Ask a lot of questions and do your homework. I live in CA and have never been to KS.