My first out of state deal
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $272,500
Cash invested: $15,000
4/2 Single family house
What made you interested in investing in this type of deal?
The house prices are lower than what is available near where I live and the rent is same.
How did you find this deal and how did you negotiate it?
MSL and looking on line with zillow
How did you finance this deal?
Cash since other bids in on house then refinance 75%
How did you add value to the deal?
Bigger pocket Rental calculator
What was the outcome?
Cash flow $700 (mortgage, taxes, insurance with property manager cost included)
Lessons learned? Challenges?
Appliances low stock to choose from and Contractor took longer than planned.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Had establish Real estate agent, however did hire a property manager the day I showed up to see house after my offer was accepted. That led to an off market deal.
