Purchase and hold to rent and sell in the future

[Renee Thompson]

Investment Info:

Single-family residence buy & hold investment in Tampa.

Purchase price: $135,000
Cash invested: $45,000

Did a gut job of this home, inside and out. We chose this property for the rental potential, and for the increasing land value. Currently receiving $1450 monthly income, and current market data is approximately $275,000 if we decided to sell it.

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

Current and future income potential

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

Inquired directly with the owner

How did you finance this deal?

Cash

How did you add value to the deal?

Increased the value by updating the interior and exterior

What was the outcome?

Rented within 1 week

Lessons learned? Challenges?

There will always be unanticipated issues that come up, so build a budget to anticipate.

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

We are a Real Estate Brokerage and have multiple connections.