Stumbled on a single family home with a tenant.

[Jenny T.]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $55,000
Cash invested: $13,750

First Buy & Hold, the toughest part of this deal was the financing. $35K Loan and it took 45 days to complete the financing.

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

The fact that I could get a whole house, with tenants, for almost the same as buying a SUV.

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

I found it on Redfin. A close friend of mine referred a realtor.

How did you finance this deal?

$35K loan with Wells Fargo Bank.

How did you add value to the deal?

I kept on top of maintenance.

What was the outcome?

Cashflow every month.

Lessons learned? Challenges?

Financing a small loan is the same as financing a million dollar loan.

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

Lesa Blythe - The Blythe Team