Walhalla SFH Rental Property

[Austin Sumner]

Investment Info:

Single-family residence buy & hold investment in Fort Collins.

Purchase price: $289,000
Cash invested: $8,670

Single Family Home rental property. Two story, 3bd, 2.5 ba, 1560 sqft.

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

We were first time home buyers with dreams of building a REI "empire". We thought the best option for us was a SFH in our market.

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

Found through local real estate agent. The property had sat for much longer than most during the time we were searching so we made low offer, discovered their bottom line, which was much lower than asking (I don't remember the number off the top of my head), and pulled the trigger.

How did you finance this deal?

Conventional 30. Recently refinanced to Conventional 20

How did you add value to the deal?

We made minor cosmetic upgrades over the two years we lived in the property.

What was the outcome?

Currently Rented

Lessons learned? Challenges?

The process was easier than we originally anticipated. The property management company has been excellent and will continue to take advantage of their services.

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

We worked with Kathy Alberts from The Group real estate. She was very helpful. We have since met Brent and Kristie Duggar (The Group Real Estate) who are also excellent agents in the area.