Rental property investment experience

[John Novak]

Investment Info:

Single-family residence buy & hold investment in Toms River.

Purchase price: $217,000
Cash invested: $80,000

Single family dwelling. Partnered w brother and sister in law

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

Getting passive income

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

Realtor

How did you finance this deal?

Traditional Mortgage

How did you add value to the deal?

Minimal rehab

What was the outcome?

Was able to get a renter within two days

Lessons learned? Challenges?

Leave out realtor and learn how to find our own deals. Also find different ways to make deal

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

We learned after finding this deal and at times if closing that our realtor was related to the seller and we feel we payed more then we should