First Rental Property

[Jared Erby]

Investment Info:

Single-family residence buy & hold investment in Dayton.

Purchase price: $6,800
Cash invested: $20,000

buying this with my savings paying cash for it all. 3 bed 1 bath single family home in Dayton, Ohio

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

looking for long term wealth for my family

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

found the deal on facebook marketplace and i walked it knew it needed alot of work negotiated the price down to $6,000 and i pay all closing costs seller even paid water bill that was owed

How did you finance this deal?

i paid cash

How did you add value to the deal?

paying cash i believe made the deal for the seller and it was a very quick close

What was the outcome?

walk away with the house for $6,800 and itll rent for $800/ month and also im putting $20,000 into it and all the work myself

Lessons learned? Challenges?

still in process of rehabing it but i dont see anything that jumps out at me

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

i had my realtor sit in on closing Tan Grey to make sure everything is what it is... id highly recommend her to anyone shes amazing and really looks out at it