Rent house by Abilene Christian University

[Caleb Fullerton]

Investment Info:

Single-family residence buy & hold investment in Abilene.

Purchase price: $24,000
Cash invested: $4,800

Small, one bed, one bath property walking distance from the premier university in Abilene, TX.

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

This is my first rental property, and it's very special to me. We named this property the 'Mia House' after my first daughter. My wife and my goal is to purchase a rental property for each of our children and, over their lifetime, teach them ownership and stewardship by showing them how to own rental property.

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

It never even hit the market. I was making small talk with another agent and put it under contract before the pictures were even taken.

How did you finance this deal?

We could have paid cash, but we opted to put 20% down and do conventional financing through First Financial Bank here in town.

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

I am a licensed realtor, so I was able to write the contracts and negotiate the deal myself.