Long Term Rental

[Barbara Wise]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $211,000
Cash invested: $50,000

Purchased this house for $211k eight years ago. It was my primary home and is now going to be my LTR. I am presently looking for a rehab to fix and hold for 2 years.

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

I have recently gotten into REI and my eyes have been opened to the possibilities around me.

How did you finance this deal?

Conventional

How did you add value to the deal?

Appreciation

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes, Coldwell Banker Mayfield Realty in Redmond, Oregon.

[Eric Bilderback]

I never did a househack. If I did I would been out of my 9-5 4 years earlier I bet.  After about 10 years I have accumulated a fair amount of small multifamily properties.  If I were to do it again I would do exactly what you are doing.

- Is your goal to be financially independent, nice retirement, or just have a nice little profitable side hustle?

- And you said you were looking for a flip to live in or a househack acquiring a 2-4 more units?  

Both are great ideas or even both.  I am an advocate for buying real estate and then just holding it.  Buy the best deal you can find and in 10 years you will look like a genius.