1st buy and hold rental property

[Andrew Robitaille]

Investment Info:

Single-family residence buy & hold investment in Gilford.

Purchase price: $152,000
Cash invested: $14,000

Probate deal
Appraised for 206000
Purchased for 152000
Rent 1400
NOE 1100
CF 300

2b 1b
Unfinished basement with separate front entrance. Current renter only upstairs planning on finishing and renting basement as 1b1b for an additional $600/m

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

Great price with lots of potential.

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

Contacting probate law offices

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Adding separate unit in basement

What was the outcome?

Nothing yet

Lessons learned? Challenges?

Dealing with a bunch of siblings agreeing takes lots of time (4 months)