First Rental Property

[Greg Lees]

Investment Info:

Single-family residence buy & hold investment in Ridgeland.

Purchase price: $191,400
Cash invested: $38,500

New construction, 3 bedroom, 2 bath, 2 car attached garage. Central heat and air conditioner.

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

My realtor recommended it to me

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

My realtor helped me find it and negotiate it

How did you finance this deal?

I paid cash for it out of my HELOC, and refinanced after 6 months of renting the property

How did you add value to the deal?

New refrigerator, new washer and dryer, window treatments, and ceiling fans

What was the outcome?

Great investment for my first Investment property

Lessons learned? Challenges?

Buy the house in your personal name and flip into your LLC after refinancing.

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

Jared Romero and Annette Bryant with Bay Street Realty

Carla Ashley with Midland Mortgage Co

Mark Bryant with Bryant Brokers