First Investment Property

[Clayton Silva]

Investment Info:

Single-family residence buy & hold investment in Fayetteville.

Purchase price: $120,000
Cash invested: $1

3 bed 2 bath with about .5 acre lot. Beautiful backyard that backs into a government owned forest. Trails and forest behind the house, brand new gutters, 2 year old water heater, 3 year old A/C. 2 car garage with large, built in work bench. Recently remodeled floors and beautiful stainless steel appliances.

UPDATE: Refinanced in February 2021 and now instead of 4.1% interest, it has a 2.25% rate! I added an extra $175/month in cash flow with very little cost (I think it was like $2,200 for the refi). Going to have to put a new roof here soon :(

UPDATE: New Roof Hurt --> got a quote in 2019 for a roof at about $7,500 and just had this one installed in 2021 for around $14,000 due to shortages! Lesson: don't wait people! Especially in a place like NC where hurricanes and lots of rain can do a lot of damage to a roof in one year. I was lucky the old roof didn't break down!

UPDATE: New Roof Hurt --> got a quote in 2019 for a roof at about $7,500 and just had this one installed in 2021 for around $14,000 due to shortages! Lesson: don't wait people! Especially in a place like NC where hurricanes and lots of rain can do a lot of damage to a roof in one year. I was lucky the old roof didn't break down!