Single-family residence buy & hold investment in Southaven.
Purchase price: $162,000
Cash invested: $61,390
This was my family's first home. We lived there from 2004 to 2017 and then used the home as a launchpad into becoming a Real Estate Investor and Landlord.
What made you interested in investing in this type of deal?
I always figured that I'd try to keep the house and have it fund college for my kids. So I became a self managing landlord.
How did you finance this deal?
We originally started with an 80/20 deal a few years before the crash. We eventually refinanced into an FHA loan with 3.5% down.
How did you add value to the deal?
Mainly lived there for 12 years. New roof, pergo flooring, new paint. Just turned it into a rental to begin cashflow and tax advantages.
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