All Forum Posts by: Bethany Turon

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $341,900
Cash invested: $12,000
Sale price: $412,000

Originally purchased as primary residence and job moved us less than a year later. We turned it into a rental with a great property manager and net neutral cash flow and held for 4 years to allow tenants to pay mortgage down and property appreciation. Sold once appreciation stalled via Zillow offers (super smooth process) to realize a $60k property appreciation value.

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

Yes, EcoSystems is a great property management company. The owner is also a real estate agent.

@Nathaniel Seekins Is there a meetup scheduled for July? Would love to participate if 

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Lisbon Falls.

Purchase price: $186,000
Cash invested: $6,000

Duplex built in 1885, originally purchased to house hack, now both sides are rented.

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

Loved the idea of having a second unit help pay my mortgage.

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

I used a standard agent. Not below market but appreciation has really made this house worth it.

How did you finance this deal?

FHA with 3% down.

How did you add value to the deal?

I lived in the house for 3 years when I first purchased before moving halfway across the country.

What was the outcome?

Right now it’s cash flowing very nicely and there is high demand in the area.

Lessons learned? Challenges?

I bought this property at the peak of the housing bubble, so for a year or so I had negative cash flow. I was able to refi for free with a government program at the time which lost 3 years on my mortgage but made it much more financially viable. initially I WAs my own property manager which worked well, but had to use a company when I moved away. This is where I learned the hard way the importance of having a good manager. For about 3 years I had a company who kept giving me horrible tenants.

Investment Info:

Single-family residence buy & hold investment in Adel.

Purchase price: $72,000
Cash invested: $3,000

My first property.