First SFR Investment Property
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $65,000
Cash invested: $68,000
First single family rental property. Many lessons learned . . .
What made you interested in investing in this type of deal?
Long-term wealth building
How did you find this deal and how did you negotiate it?
Friend referral
How did you finance this deal?
Private money and savings
How did you add value to the deal?
Full remodel
What was the outcome?
3 months of rehab, had a renter within 5 months, cash out refi within 6 months
Lessons learned? Challenges?
Too many to list . . .
Self-managing for now
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Our realtor helped with listing and getting property rented. Our lender helped with the appraisal process and cash out refinance