Turning my first SFH purchase into a rental

[John Williams]

Investment Info:

Single-family residence buy & hold investment in Southaven.

Purchase price: $162,000
Cash invested: $61,390

This was my family's first home. We lived there from 2004 to 2017 and then used the home as a launchpad into becoming a Real Estate Investor and Landlord.

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

I always figured that I'd try to keep the house and have it fund college for my kids. So I became a self managing landlord.

How did you finance this deal?

We originally started with an 80/20 deal a few years before the crash. We eventually refinanced into an FHA loan with 3.5% down.

How did you add value to the deal?

Mainly lived there for 12 years. New roof, pergo flooring, new paint. Just turned it into a rental to begin cashflow and tax advantages.