Rental #3 Bread & Butter SFH

[Tricia Miller]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $145,000
Cash invested: $36,250

3BR/1BA home in great family friendly neighborhood within walking distance to downtown Suffolk.

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

I am working to build a portfolio of buy and hold rentals.

How did you find this deal and how did you negotiate it?

My daughter lived across the street and we knew this was a great little neighborhood for buying relatively inexpensive bread and butter homes. She saw the tenants across the street beginning to move out. I contacted the owner and wouldn't stop talking to him about it for about 2 months before he sold it to me.

How did you finance this deal?

Conventional financing.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I am an agent and I bought it from my broker who turned out to also be the owner:)