Updated almost 3 years ago on . Most recent reply
2nd Rental Property
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $170,000
Cash invested: $20,000
2nd buy & hold property with slight rehab
What made you interested in investing in this type of deal?
Great property for the price. Slightly below value. Appreciation and cash flow is there.
How did you find this deal and how did you negotiate it?
Real Estate Agent Presented it to me
How did you finance this deal?
Conventional 20% down
How did you add value to the deal?
Add new flooring, rehab bathroom and add backsplash. Installed Mini Split Unit
What was the outcome?
Good
Lessons learned? Challenges?
Search for better contractors, paid $20,000 and had to repeatedly have them come back for poor job. Felt like somebodies grandparents could have done what they did for $5,000.