Investment Info:
Single-family residence buy & hold investment.
Purchase price: $115,000
Cash invested: $30,000
3 beds 2 Bath single family
What made you interested in investing in this type of deal?
It was my first. The Leap of faith.
How did you find this deal and how did you negotiate it?
My realtor found it through her network.
How did you finance this deal?
30% down and bank finance the rest.
How did you add value to the deal?
I didn't increase the rent to market, kept it to what he was paying til the year was out and only increased it to cover the property and expenses not really for profit.
What was the outcome?
Owned it for 3 years great tenant, appraised amazingly since purchase.
Lessons learned? Challenges?
Play my role as real estate investor not landlord, let my property manager do his job.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Absolutely Toni McIntyre, she has helped me with two properties prior and my next one for my family.
https://www.bhgre.com/Better-Homes-and-Gardens-Real-Estate-Paracle-42261c/Toni-McIntyre-2920917a
