First Single Family Rental

[Trey Bagby]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $120,000
Cash invested: $8,000

3 bed 2 bath, 1,100 sq ft. single family house. I purchased this property off market for $120,000 as my primary residence with the plan of renting it out in the next year or two. Overall the property was in really good shape, just needed cosmetic updates (removed wallpaper, updated fixtures, painted, new carpet, and new appliances). PTI come out to $705 and would easily rent for $950-$1000. Appraised at $140,000.