First rental sold!

[Kristopher Kyzar]

Investment Info:

Single-family residence buy & hold investment in Carrollton.

Purchase price: $52,500
Cash invested: $13,986
Sale price: $125,500

Got this gem through my lead generation campaign. Tired landlord offloading his portfolio. Initially thought I lost it because he got a higher offer, but followed up about a month later to find out he didn't sell. Negotiated from $60,000 to $52,500. Property is in good shape with paying tenant. Great cashflow for the last 2 years. Tenant was transferred, so I sold this rental to make room for more deals.

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

Low initial investment, positive cash flow for the duration of the renal period, huge profit on the back-end.

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

Off-Market lead generation campaign brought this deal to me. The seller was initially wishy-washy, but I let him negotiate with himself, and ultimately got the asking price down from $65K to $52,500.

How did you finance this deal?

DSCR loan from local credit union.

What was the outcome?

Solid cashflow for 2 years with existing tenant. Tenant was transferred 2 years after purchase, so instead of rehabbing and renting again, I decided to sell and put the capital to better use.