We have been working in the affordable housing space for some time, and this allowed us to partner with the local community and provide a housing solution they need as their city continues to expand with new jobs they are successfully bringing to town.

Did you finance this deal with a local bank or credit union?

Even with that, I think we will still be way ahead. 2 bed, 1 bath, 1200sq/ft, detached 1 car garagePurchase Price: $38,000Repairs: $20,000ARV: $96,000 (based off Zillow, but a local real estate agent thought that was pretty accurate)Mortgage: $430Insurance: $55Trash Included: $25Rent: $1,000We are now going through applications for our first tenant. 

Build connections with local professionals, talk to them in person, and value there time over yours.

Go to BUILD YOUR TEAM at the top of the screen and look for local investors or meetups in your area.

Heck my local credit union pays 3.5% on its basic account. 

I can put in touch with a couple of local insurance agencies.  

I live in Tacoma, WA…a lot of folks don’t want to deal with having to learn the local housing laws.

I purchased my first buy and hold SF rental property last year and turned the property into a student rental as it was very close to a local College.

I drop them and use a competent local RE agent, who did a great job.