My first residence, trying to make it my first rental property

[Adham Burbar]

Investment Info:

Single-family residence buy & hold investment in Chandler.

Purchase price: $231,000
Cash invested: $15,000

It’s my first house and my current residence, I am going to cash out refinance to buy another property to live in and make it my first investment

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

Good location, space and good start up point for rental investment

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

On Zillow
I talked to the owner to lower the price to fix the house from 250,000 to 231,000

How did you finance this deal?

FHA loan

How did you add value to the deal?

Remodeling the whole house

What was the outcome?

Ready rental property

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

Broker