SFH local investment

[Stephane Larcade]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $315,000
Cash invested: $63,000

This is a nice rental property. Maybe too nice. 4 bedrooms. 2 floors, unfinished basement.

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

I owned a property in GA that didn't cashflow. I moved to VA and decided to get a rental closer to home.

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

Found it through regular agent. negotiation was zero. I'm learning for the next one.

How did you finance this deal?

1031 exchange from property in GA

How did you add value to the deal?

replaced appliance. everything else was ready to go.

What was the outcome?

deal got done, today proerty is cash flowing. 4th renter.

Lessons learned? Challenges?

Learned a lot on 1031 exchange. still learning on negotiation and better rental properties.

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

I did work with a real estate agent but would not recommend.