Investment Property in South Texas

[Ramiro Rodriguez]

Investment Info:

My 1st Investment!! JV with my parents!

Purchase price: $70,000
Cash invested: $80,000

My father Owned the Land lot for 10 years he purchased it from a friend that could had to sell it due to financial issues, We then went 50/50 on building a small home on it and use it as a rental.

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

Cash flow paying all cash for the property.

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

We created this deal using a vacant land lot we already own and building on it.

How did you finance this deal?

Cash

How did you add value to the deal?

I self manage the property and take care of all the paperwork and communication with the tenants for the property. 

What was the outcome?

Currently in a 1 year lease with a good tenant.

Lessons learned? Challenges?

Finding a tenant is challenging, screening tenants is crucial. People want you to lower the rent and i didnt expect that.

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

No i did not, I self manage the property and my father does handy man work himself if needed. Larger jobs we would contract out.