First rental property purchase in Jackson TN

[Robert Flynn]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $65,000
Cash invested: $13,000

3 bed and 2 bath with 1400 sq ft single family home

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

Cash flow

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

Found deal on MLS and negotiated with seller.

How did you finance this deal?

Conventional mortgage through lender.

How did you add value to the deal?

Purchased home with inherited tenant. Made a couple of neglected repairs by previous owner.

What was the outcome?

Increased value of property.

Lessons learned? Challenges?

Cost of repairs were more than expected.