Single Family Buy and Hold

[Heath Shepard]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $300,000
Cash invested: $300,000

Single family residence built in 2017. 1933 sqft 3/3. Great home.

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

Its a newer house in a great part of town. It is in Boerne School district which are some of the best schools in the state and also in the I10 corridor with easy access to San Antonio. Renters were already in place and there was equity captured upon the purchase of the property.

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

Property manager friend had a client that needed to sell it.

How did you finance this deal?

I paid cash for this property because I had it at the time but I will refinance it eventually when I find another house that works.

How did you add value to the deal?

I actually haven't done anything to this property.

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

My friend is a real estate agent and at the time I did not have my license. Also I have a deal with him where he brings me properties and he can represent me.

[Heath Shepard]

Hey Andrew!! Thanks so much for reaching out. I am just figuring out how to add properties on bigger pockets so I bought this property last year in February. I bought it for 300k with tenants already in it paying $2,400/mo. I paid cash for this house because I needed to park some money for a while. I plan to pull out 70-80% of that equity once I find another deal but right now the market is so stinking hot reasonable returns are very hard to come by so for the time being the money is sitting there. As a result my cash flow is ~$1,600/mo but my ROI is only 6.44%. Prior to the pandemic I was searching for a .84% purchase to rent ratio but now we are looking at .75%-.79%(if your lucky). If you are interested, I am a real estate agent and I would love to help you in any way I can. Are you located in Boston? What does the market look like where you are located? Thanks again for reaching out.

Talk to you soon,

Heath Shepard