Second SFH for the win!

[Mackenzie Grate]

Investment Info:

Single-family residence buy & hold investment in Kingston.

Purchase price: $114,000
Cash invested: $20,000

Another SFH, two blocks from the first one. A bit more work on the reno, but rented out for more because it was bigger and the market took off during the pandemic.

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

I knew the area. It was a great price. My first SFH was successful so I figured why not do it again?

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

MLS. Again, I ran the numbers and offered what I was comfortable. I always renegotiate after the inspection as well.

How did you finance this deal?

Conventional lending

How did you add value to the deal?

We gave cosmetic updates: paint, flooring, new appliances, and took out an awkward, non permitted bathroom downstairs.

What was the outcome?

Good. It rented out quick and has had the same tenants so far...

Lessons learned? Challenges?

Measure a refrigerator multiple times before ordering, lol. Also it was just challenging navigating the one person working at a time thing since Covid had just started.

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

Leslie Foti