1st Rental Purchase in 2016

[Imelda Mendoza]

Investment Info:

Condo buy & hold investment.

Purchase price: $45,000
Cash invested: $68,000

Condo, cash purchase, did cash out after 1 year.

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

Booming area in Dallas and got lucky to find a deal on the MLS

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

MLS used my realtor and offer a cash offer and fast close with short inspection period.

How did you finance this deal?

My own personal cash

How did you add value to the deal?

Invested about 12k into it

What was the outcome?

Cash flows $100 monthly and the equity in it has jumped due to the hot spot in Dallas

Lessons learned? Challenges?

Need to work faster to get it fixed and not over think the small things. Set a scheduled deadline for me and track better the Goal from start to end of updates to home.

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

Yes