3rd Time is the charm

[Melissa S Vrobel]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $270,000
Cash invested: $60,000

This time I bought this was an investment purchase from the beginning. It was a new build and with 5 bd I knew that the cashflow was there. It currently rents for $1997 per month and I have had multi-year rental contracts from the beginning.

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

I already had a rental home that was creating steady income and I knew the bedrooms and not SQ FT set the rental price. It has never been empty long.

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

I bought it directly from the builder knowing that maintenance would be low for some time. It is on a cul-de-sac which is great for those who like quiet.

How did you finance this deal?

Investment loan through the builder approved lender (which helped with the 6k offered in closing costs).

What was the outcome?

I plan to pay off the mortgage and use the monthly cash flow to retire early. Then leave the house to my neice in the will.

Lessons learned? Challenges?

The only challenge has been the lawn. It has sprinklers but weeds grow faster than the lawn.