Investment Info:
Townhouse buy & hold investment.
Purchase price: $175,000
Cash invested: $51,500
Cash flowing townhouse in Fort Worth, Texas
What made you interested in investing in this type of deal?
No property management needed.
How did you find this deal and how did you negotiate it?
Contacted and agent from Zillow in the Austin, Texas market and they suggested the area.
How did you finance this deal?
I had to prove I had 20% down and I used and all cash buyer then I bought it from using a 30 year mortgage.
How did you add value to the deal?
Did a few necessary repairs and some requested items from tenants.
What was the outcome?
Cash Flow is $280 monthly
Lessons learned? Challenges?
From the beginning it was cash flowing more than it is now but because insurance & HOA went up I started breaking even for almost a year. I had to change insurance companies, raise the rent and I used a company called Ownwell to help reduce my property tax. Now my property is cash flowing again.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Shannon Barron at Keller Williams
