My first Real Estate Investment
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $152,000
Cash invested: $12,000
Bought a SFR while i attend college and decided to rent out the rest of my bedrooms to generate cash flow.
What made you interested in investing in this type of deal?
I did not want to throw away a ton of money for rent while attending school.
How did you find this deal and how did you negotiate it?
I found the deal online and negotiated through the licensed agents
How did you finance this deal?
Savings
How did you add value to the deal?
I have upgraded the house to increase the appreciation value and have also had tenants in the home consistently to offset the mortgage costs
What was the outcome?
Still using it as a rental house
Lessons learned? Challenges?
Always screen your tenants.
Don't do cosmetic and aesthetic upgrades to your house until right before you sell it. These upgrades will only get trashed throughout your rental years.
(I planted grass and watered real nice, now it never gets watered and rarely mowed so I lost a bunch of money)