Just adding my first SFR from 12 years ago.

[Adam Hughes]

Investment Info:

Single-family residence buy & hold investment in Pontoon Beach.

Purchase price: $78,000
Cash invested: $3,000

Bought this property and house hacked by adding roomates while still in college. Got married eventually and moved out. Have had the same renter in the house since 2012.

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

Really it was an accident, but I liked the idea of not having to pay out of pocket for my mortgage.

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

Through a realtor and offered 70k when it was listed for 90k.

How did you finance this deal?

FHA 30 year.

How did you add value to the deal?

Have redone the roof, siding, flooring, paint, added a fence, and upgraded the HVAC system.

What was the outcome?

I get $850 per month on the house.

Lessons learned? Challenges?

Didn't do a great job of managing it like a business, and let the tenants get away with some small stuff. I look at it now and realize I've been lucky but have since mitigated that risk by treating this as a business.

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

Not really.