Single-family residence buy & hold investment.
Purchase price: $340,000
Cash invested: $50,000
My 1st rental income property.
What made you interested in investing in this type of deal?
The RE market was in a major recession. Prices were @ record lows.. bought my 1st property at 23 years old in 2011.
How did you find this deal and how did you negotiate it?
Found the house myself driving around local neighborhoods.
How did you finance this deal?
FHA. Then refinanced 2 years later onto a 15 year conventional loan.
How did you add value to the deal?
Drought tolerant landscaping front and back including artificial turf. Air conditioning. New Drywall in garage. Upgraded kitchen.
What was the outcome?
Quality, low maintenance rental property that attracts long term tenants.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Purchased property though local realtor.
@Matt Nuttall congrats on the rental property! Hope it is still working out well!
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