1st Real Estate Investment

[Briana Bean]

Investment Info:

Single-family residence buy & hold investment in Springfield.

Purchase price: $35,000
Sale price: $45,000

1st Real Estate Investment!

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

We were looking to make a small investment to get our feet wet, and when we ran the numbers, this one was it.

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

MLS, it was pretty cut and dry

How did you finance this deal?

Through a local credit union

What was the outcome?

The ROI was great! The tenants were good and lived there the full two years we had it. They always paid before rent was even due. Tenant screening works! Or at least it did in our case.

Lessons learned? Challenges?

We ended up selling this house, because of the concerns my husband had with the house itself. When we bought it, it looked great! But not long after that, my husband became a home inspector and saw some issues. In the long run, it wouldn't have been worth it to keep it. So we sold it after profiting from it for two years, and made a small profit on the sales while the market was hot.