My only investment (Newby, sort of).

[Richard Dekok]

Investment Info:

Single-family residence buy & hold investment.

Cash invested: $20,000

I'm a newbie, just looking to step into this. However my siblings and I inherited a SFH which we rented when we couldn't sell it for a reasonable amount in 2009. My sister and I bought our everyone else for a third and rent it together as of last year. So, I've been land lord for 11 years. It is 3 bed/2 bath w single car garage and fenced back yard.

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

It was out of necessity and the landlordship fell t o me.

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

Inherited.

How did you finance this deal?

cash.

How did you add value to the deal?

Painted all interior and refinished the nice hard wood floors we discovered under the carpet. Remodeled the bathroom.

What was the outcome?

Well, I've had the same renter for 11 years. Made a lot of mistakes along the way but fortunately choosing a bad renter wasn't one of them.

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

Attorney for title work and estate settlement.