Updated about 3 years ago on .
1421 E Front St
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $140,000
Cash invested: $28,000
Recently updated single family home is the Tyler Medical District. Great litte home inside and out on a decent sized lot.
What made you interested in investing in this type of deal?
Location and the condition of the house were both important to us on this deal. Since we live out of town, we were looking for turnkey rentals and this property fit the bill.
How did you find this deal and how did you negotiate it?
Dawn Davis with Keller Williams Tyler assisted us on this deal as well as Realtor.com. You'd be surprised how many good deals you can find on Realtor.com.
How did you finance this deal?
Conventional financing with Manny DeLeon at Southside Bank.
How did you add value to the deal?
Property was basically turnkey. Installed a new refrigerator and stackable washer / dryer. That was pretty much it.
What was the outcome?
Took a little longer to lease than expected, but we did get the rent rate we were looking for and tenant seems go so far.
Lessons learned? Challenges?
Living out of town makes it a little challenging when issues arise, but we have lots of family in Tyler who were willing to help. Also gives them the opportunity to be involved in the real estate cycle.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Dawn Davis with Keller Williams Tyler
Manny DeLeon with Southside Bank
