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Updated about 4 years ago, 12/15/2020
FIRST INVESTMENT PROPERTY!!!
Investment Info:
Single-family residence buy & hold investment in San Antonio.
Purchase price: $160,000
Cash invested: $16,000
CLOSE TO DOWNTOWN
FRONT HOUSE 2/1/0 672' - I PLAN ON THIS BEING A STRAIGHT RENTAL FOR $1050 P/MO.
1/1 CASITA IN THE REAR - I PLAN ON THIS BEING AN AIRBNB (AS A STRAIGHT RENTAL THE RENT WOULD BE $900 P/MO). NOT SURE WHAT THE NUMBERS ARE YET, RE: AIRBNB.
What made you interested in investing in this type of deal?
INCOME AND APPRECIATION
How did you find this deal and how did you negotiate it?
WHOLESALER; NO NEGOTIATIONS
How did you finance this deal?
HML
How did you add value to the deal?
I PLAN ON PAINTING INTERIOR AND EXTERIOR AND REDO THE FLOORING AND ALSO ADD SOME LANDSCAPING; FURNISHING THE CASITA ..NOT SURE BUT MAYBE COUNTRY CHIC
What was the outcome?
JUST GOT THE DEAL. CLOSING ON DEC 30.
Lessons learned? Challenges?
I'LL ADD TO THIS POST AS I GO THRU THE PROCESS.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
HML: MATT JANNER AT SEARCHERS CAPITAL