Prior primary residence

[Dan Walker]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $305,000
Cash invested: $9,150

Lived in this house for a number of years. Built a new house, now cash flowing this one.

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

Lehi, Utah is a strongly growing area in Utah. Because it is a prior primary residence had a lower buy in for ownership.

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

Lived here and owned the property.

How did you finance this deal?

30 yr standard fixed-rate mortgage.

How did you add value to the deal?

Lived in the property which appreciated considerably while I lived there.

What was the outcome?

Rented it easily and is now a strong cash flow.

Lessons learned? Challenges?

I wish I could do this more and more.

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

I am a professional property manager. Always recommend working with a property manager.