Primary Home turned in Rental home
Investment Info:
Townhouse buy & hold investment.
Purchase price: $376,000
Cash invested: $50,000
House hacking at the moment. Making the soon to be rental town home as a primary, due to the due payment and interest rate.
What made you interested in investing in this type of deal?
Price, location and potential future positive passive income and great appreciation
How did you find this deal and how did you negotiate it?
Realtor
How did you finance this deal?
Conventional loan
How did you add value to the deal?
We offer 10,000 under asking price, and ended up getting the offer accept with $6000 under asking price.
What was the outcome?
A new additional to the rental roster
Lessons learned? Challenges?
I was taught that even if you realtor thinks that offer below asking price is insulting. You make them write up the offer anyways and see what the seller says. The worse thing they can say is no, and they counter. Which is exactly what they did.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes I did. I will give the information directly when asked.