Our second investment property

[Chris Thomas]

Investment Info:

Single-family residence buy & hold investment in Joplin.

Purchase price: $60,000
Cash invested: $5,000

3/1 need fresh paint and new appliances. Total was around 5k. Has rented for $775 since month two of ownership.

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

Good location and priced right for the area.

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

MLS- Realtor

How did you finance this deal?

Conventional with 20% down.

How did you add value to the deal?

Fresh paint, and new appliances. Cleaned the yard and made it feel more like a home vs a "rental" property.

What was the outcome?

Been a good cash flowing property, with no turn over to date.

Lessons learned? Challenges?

saving the 20% is a slow process. I have moved to the cash buying, adding value and refinancing to keep my cash flow. BRRRR

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

Yes, same agent I have used for years. If you need a referral in Joplin, MO. Just let me know.