First investment property!

[Travis Lebsack]

Investment Info:

Single-family residence buy & hold investment in Chandler.

Finally got my first investment property! It's a 4/2 in Chandler AZ. Renovation took 6 months. I learned so much. It's now rented for $1800.00/month. PITI is $700.00/month.

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

I want to build a portfolio of SFR's and small multi-families. I'm focused on cash flow for now.

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

This is my prevuius primary residence. Bought it off of the MLS.

How did you finance this deal?

FHA loan.

How did you add value to the deal?

Did a full gut renovation. Brand new kitchen and bathrooms. New flooring. New paint, interior and exterior. New desert landscaping and palm trees. New HVAC unit. New garage door unit.

What was the outcome?

It's rented for $1800.00/month. Had no problem renting it. Now working on being a landlord.

Lessons learned? Challenges?

I learned a while lot about rehab. What I'm good at, and what I'm not good at. I learned I need to get out of my own way. I wanted to do everything, and that slowed down the renovation.

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

Damian Curtis @ Curtis Contracting
Daniel Fessler @ Compound Concrete
Alan @ Innovative Electrical
Brett Monika @ Kilter Mechanical