My First Home turned Rental

[Michael Woods]

Investment Info:

Single-family residence buy & hold investment in Clarksville.

Purchase price: $110,000
Cash invested: $6,000

First property trying to get my first long distance property.

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

I've always wanted to buy a house, but this was the first opportunity that was achievable.

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

Found it on the MLS, bought it for asking price.

How did you finance this deal?

30 year VA loan

How did you add value to the deal?

Updated the appliances, A/C unit, water heater, flooring, and light fixtures.

What was the outcome?

Able to cash flow at least $300 monthly, and have a nice ROI.