All Forum Posts by: Kyle Palentino

Investment Info:

Single-family residence buy & hold investment in Montgomery.

Purchase price: $360,000
Cash invested: $75,000

Single family residence (4 Beds, 2.5 Baths) focused as a long term rental.

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

First Investment Property. Originally Primary Residence.

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

MLS Purchase

How did you finance this deal?

Cash from prior sale proceeds.

How did you add value to the deal?

Live in fixer upper/updating for 18 months. New floors and carpets, updated appliances and fixtures. Painted interior rooms. Added fencing and landscaping to backyard.

What was the outcome?

Working towards getting it occupied with first tenants.

Lessons learned? Challenges?

Run the numbers more than once. Be patient. Consider multiple options for renovations and purchases. Bet on yourself.

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

Caleb Boyer of Providence Hill Real Estate

My wife and I are currently flipping our house and plan to move later this year to make it a rental property. While living in it as a primary residence and doing small and large projects during that time, are we able to use funds from our business account (an REI LLC that will be used to hold the property in the future) or should we only expense from our personal account? We are looking to build transaction history for our business for future lines of credit as we expand our investment portfolio and look to fund that/other projects in the future.