Single Family Rental

[Patrice Boenzi]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $154,000
Cash invested: $30,800

Single Family Rental

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

It was an off market property that we were able to secure before it went live in the MLS.

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

Our Realtor found this off market property and we paid a bit over fair market value to keep it out of the MLS

How did you finance this deal?

Conventional financing

How did you add value to the deal?

We allowed the property to sit empty for 5 months with a security deposit and signed lease for a 2-year term at above market rental prices. Property cash flowed better with the higher guaranteed rent rate and vacancy of 5 months than if it was rented immediately at current rental rates.

What was the outcome?

We found fantastic 2-year tenants

Lessons learned? Challenges?

This rental has been wonderful with no issues.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Realtor and Lender