Updated over 3 years ago on . Most recent reply
My first ever rental!!
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $740,000
Cash invested: $145,000
This is a long-term rental that I picked up a few years ago. Its a beautiful house in a great area.
What made you interested in investing in this type of deal?
The market was very hot and I got one of the only good looking houses in the area that was available on the market for a reasonable price. I also had a tenant locked in at the lease price of $4000 a month when my mortgage was only $2900 a month, 2 year lease.
How did you find this deal and how did you negotiate it?
I found this deal through my realtor on MLS. The market was extremely hot. I actually ended up paying $25,000 over for this property.
How did you finance this deal?
Conventional Mortgage
How did you add value to the deal?
Exterior Paint
What was the outcome?
Beautiful
Lessons learned? Challenges?
Its been pretty solid all the way around on this one, super thankful.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes & yes!!
