Hopstreet 1st rental property

[Matthew Scott Bilslend]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $98,000
Cash invested: $19,600

2 bd 1 ba 1160 sq ft. Detached garage

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

passive income

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

we worked with a realtor and closed on the property with very little complications.

How did you finance this deal?

we used a 30 year note, but recently refinanced with a 15year note at 3.5%.

How did you add value to the deal?

after our first tenant moved out. (2 years) we replaced some ceil tiles, lacquered the living room floor, painted all rooms but the bathroom, and put in click-flooring in the laundry/bonus room.

What was the outcome?

went well, only sat vacant 1 month.

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

Jimmy reed and BHHS