Nice single family rental in a small town

[Todd Swalin]

Investment Info:

Single-family residence buy & hold investment in Renwick.

Purchase price: $47,000
Cash invested: $10,000

Three bedroom 1 bath house is a great home. It was almost move in ready when we bought it. We ended up doing some painting and replacing the dining room floor.

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

It was a moderately priced home that didn't need much work. We were able to rent it out within a month of purchase.

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

We were working in the area and noticed the house for sale.

How did you finance this deal?

Traditional bank financing

How did you add value to the deal?

I manage the property.

What was the outcome?

We are still in the first year of owning it. The tenant who lives there has been perfect so far and seems to be taking care of the house very well.