All Forum Posts by: Dylan Bennett

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $180,000
Cash invested: $40,000

Currently living in property. It is a new build so little capex/repairs needed. Have gained 30k in equity since purchase and will be able to rent for $1,600 a month when I move out. I am renting to a couple of my buddies for a discount of $400 for each equaling $800 a month.

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

The property is in a great location within the Lubbock area. Property values are growing quickly within this area as well as rents. With
Lubbock growing very quickly it was a no brainer.

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

It was a new build with a local home builder in the area.

How did you finance this deal?

20% down and the rest on a loan thru a local bank I have a relationship with.

Investment Info:

Condo buy & hold investment in Odessa.

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

A condo in Odessa Texas. This was a long term buy and hold purchase. It is in a oil driven economy. I expect this town to become more demanding as oil prices go up, hopefully resulting in higher demand for rentals. It is a 1 bed 1 bath condo renting out for $1100 a month for a year.

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

With the potential of Oil prices on the rise I wanted to be able to capitalize off this in some form or fashion. A friend of mine from this area bought a condo within the same condo building and was very pleased with his cash flow. The condominium has a project manager on site which is a small fee (well worth it).

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

Found this deal through a friend who had a condo within the same property. There wasn't much negotiation that took place. I gave what the seller was asking at 72,000.00 because I knew the demand that was beginning to take place at this property.

How did you finance this deal?

All cash purchase

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $79,500
Cash invested: $38,000

I just bought my third investment property! Purchase price of 79,500 I am putting in 36k of my own cash and using a personal Line of Credit I secured through a local bank for the rest. It is going to be interest only payments until I can refinance to pay off the principal balance. The property is not in a great area, but cash will cash flow $795 for a year starting on July 1st 2021. This is up to par with the 1% rule that is pretty tough to find right now.

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

It will provide 1% rent of purchase price which is hard to find currently in the Lubbock market. I plan on holding long term.

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

I found this deal on the MLS. It was currently rented out when I bought it and renegotiated so that the current tenants stay another year and pay a rent of $795 a month.

How did you finance this deal?

I financed 36k of cash and the rest was payed via a personal line of credit through a local bank of mine. The payments will be interest only and I will refinance to pay off the principal balance.