First deal back in 2012

[Matt Kurkowski]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $185,000
Cash invested: $5,000

We house hacked this home (before there was a term for that) then move and turned it into a rental property. We recently remodeled the home to open up and update the kitchen and installed new vinyl plank flooring throughout.

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

A friend had rentals and showed me that they can actually be really good. You normally only hear the interesting (usually bad) stories about a terrible tenant or how someone trashed the place. My friend explained that normally they are boring money makers, and that has generally been our experience.

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

On the MLS, we bout in 2012 in a buyers market. So fortunate.

How did you finance this deal?

Traditional financing

How did you add value to the deal?

Denver has boomed since so appreciation has occurred from the inflow of people to CO.

What was the outcome?

It is still in our portfolio and we’re considering selling to turn this property into a large commercial multi family deal.