My first rental property

[Teresa Rex]

Investment Info:

Single-family residence buy & hold investment in Taylorsville.

Purchase price: $250,000

4 Bedrooms, 2 bath. Part of purchase agreement seller paid for new roof, water heater, and furnace when I bought it. My renters are fantastic-pay on time and take good care of property

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

Teaching is not a high paying job. I need to increase my income.

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

Through a realtor. Was not happy with the experience.

How did you finance this deal?

Conventional

How did you add value to the deal?

Add central air conditioning

What was the outcome?

Rented it shortly after purchase and they are still renting it. I manage it.

Lessons learned? Challenges?

Find a realtor that wants to help you make the best deal for you, instead of wanting to make a quick profit. I would not use this realtor again.