Primary home turned first rental

2 Replies

Investment Info:

Single-family residence buy & hold investment in Eau Claire.

Our first rental was our primary residence before we moved to our new house

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

It was easier and less work to find a renter then to sell

How did you finance this deal?

Primary mortgage

What was the outcome?

Cash flow of $100+ per month. Could be closer to $180+ a month next year when it goes back on the market to rent-won't be offering to pay for water and garbage

Lessons learned? Challenges?

Don't be afraid to charge more then you think a property is worth

Eva great job! Yeah, let the tenants pay their own utilities, good idea. They probably use less water that way and could be more responsible with garb as well :) I've had some rentals in the past, so know where your coming from.

We may also rent out our residence down the road. August 2nd we are doing a Refi out of a land contract and will have our own financing/mortgage on our house that we already own. Kinda backwards, but it worked.

Good luck going forward,

Kel

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