First Rental property: Long Distance
Investment Info:
Single-family residence wholesale investment.
Purchase price: $4,000
Cash invested: $8,000
Single Family Rental, Rented for $635/ mo.
What made you interested in investing in this type of deal?
I had a stable job and prices were low. I figured Worst I could lose was $4k
How did you find this deal and how did you negotiate it?
MLS, during recession. Standard offer
How did you finance this deal?
Cash Money
How did you add value to the deal?
Minor Updates, now major construction.
What was the outcome?
Still holding, Still Cash flowing
Lessons learned? Challenges?
Self-Management is difficult from long Distance. Luckily I had family in the area to help.