Single Family Buy and Hold

[Steve MacNerland]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $99,000
Cash invested: $7,500

Purchased as a SF rental, currently used as primary residence

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

Access to Lake Champlain, as well as a camper hookup on each side of the house.

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

It was on the MLS, made offer the day it hit the market.

How did you finance this deal?

Conventional 5% down, recently refinanced and pulled some equity out to finance another deal.

How did you add value to the deal?

Just minor improvements, new roof, and flooring throughout. Updated enclosed front porch.

What was the outcome?

Currently Primary Residence, plan to buy/build a new home in the next couple of years and will turn this back into rental with seasonal camper lots.

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

I used a friend as a real estate agent