First Residential Buy and Hold

[Reece Riggle]

Investment Info:

Single-family residence buy & hold investment in Ardmore.

Purchase price: $37,000
Cash invested: $30,000

My first Residential Buy and Hold. Was condemned by the city when purchased.

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

Cash out Refi

How did you finance this deal?

Conventional financing through local Bank

How did you add value to the deal?

Did a complete remodel.

What was the outcome?

Have gained $30,000 in equity and cashflows $350 a month.

Lessons learned? Challenges?

More issues than what was expected and took 6 additional weeks to complete than what was planned.