Regular Mortgage to Rental
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $127,500
Cash invested: $8,000
First house bought, on a 30-yr mortgage. Transferred to a rental after 4 years of living in it.
How did you finance this deal?
Standard 30yr note.
How did you add value to the deal?
Remodeled kitchen, updated bathrooms. Installed new HVAC.
What was the outcome?
Value has almost doubled in 8 years.
Lessons learned? Challenges?
Having rental property in a different state is difficult....even with a good property manager.