Buy and Hold Cash Flow York PA #2
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $64,500
Cash invested: $15,000
We wanted to expand our portfolio so we managed to find another buy and hold cash flowing investment in York, PA. This is a 3 bed 1 bath single family home. We did not have to do very much before getting a tenant in.
What made you interested in investing in this type of deal?
We wanted to add to our portfolio. This house fit the criteria and we decided to jump at the deal.
How did you find this deal and how did you negotiate it?
We contacted our agent, Brittany Dalton, and organised some inspections. Our agent and my property manger (also a personal friend) inspected a number of properties, but this one stood out from the rest.
How did you finance this deal?
We had some of our own cash, we also borrowed a bit from friends and family and we got a hard money loan to cover the rest. We are planning on refinancing out of the hard money loan shortly and repaying all other small loans with the equity built up.
How did you add value to the deal?
We did some small things to the house before the tenant moved in. But we bought in a good position that should see some natural capital growth over the next few years. The real value was finding a great tenant very early on.
What was the outcome?
We will continue to hold this house for the foreseeable future. We want to continue to build our cash flow up to begin funding some flips in the near future.
Lessons learned? Challenges?
This purchase went much smoother because we learned a lot from the last purchase. Our team really worked well and it was a smooth process overall.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, I worked with Brittany Dalton again and she was a dream to deal with. Particularly considering we are investing from Queensland, Australia in the US.
