2nd Single Family Long Term Rentak

[Jaci Christian]

Investment Info:

Single-family residence buy & hold investment in Decatur.

Purchase price: $190,000
Cash invested: $20,000

3/2.5 Single Family Residence

Rents for $1900 per month

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

We purchased this as a home and lived here for 2 years. When it came time to move we kept this home as a rental.

How did you finance this deal?

We did conventional financing with 10% down. It re-appraised way higher within two years so we knocked off the PMI when it became a rental.

How did you add value to the deal?

We added all new hardwoods throughout, carpet in the bedrooms, new in kitchen, new master bathroom vanity with marble and new paint throughout.

What was the outcome?

We bought it for $190K and 3 years later is re-appraises for $264,000