My entry level rental investment
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $45,000
Cash invested: $0
one of two in my first purchase, these were part of what felt like a low barrier to entry and low risk investments for me to get into the world of real estate investing
What made you interested in investing in this type of deal?
I just wanted to get into the world of real estate investing, I'd love to free up my time and only punch a clock when I choose too.
How did you find this deal and how did you negotiate it?
I found this deal by talking to other agents in my office, I was lucky enough to have some friends that were willing to share with me.
How did you finance this deal?
I got a home equity line of credit and used that money to pay for this unit and another one out right.
How did you add value to the deal?
This home has long term, happy tenants. I may not have the opportunity to improve the property until they decide to move.
What was the outcome?
I am going to hold these for a while, I'll let you know how it goes.
Lessons learned? Challenges?
Everything is great so far, I am new to the deal and haven't had much time for anything to pop up.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I am an agent myself so I'd love to help anyone else that I can. I did use Synovus Bank for my HELOC and they were great.