This is my first buy and hold rental deal.

[Cory Kline]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $420,000
Cash invested: $93,000

First deal. I've learned a lot with this one and would do a lot of things differently if I had to do it again.

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

Looking to build a portfolio of single family rentals in my area.

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

This is a neighbor. He told me they were going to sell and move out of state. I made him an offer and we went through a title company. No agents involved.

How did you finance this deal?

We put down about 23% and took a loan for the rest.

How did you add value to the deal?

Value added by not involving an agent.

What was the outcome?

Closing in 2 days.

Lessons learned? Challenges?

I would have done more research on all of the little extra fees involved with going through a title company. I also would have offered less for the buying price even though the house is in excellent condition and move in ready.