A failed marriage and negative equity turned me into a landlord

[Alex Dudder]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $216,000
Cash invested: $10,000

Single family 1400 SQFT 3/2

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

I needed a place for me and my family to live.

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

The property was next door to my real estate agents house so I viewed it and made an offer before they put it on the market.

How did you finance this deal?

VA

How did you add value to the deal?

Held it and updated it.

What was the outcome?

It took a while but it eventually began to cash flow. It will be paid off about retirement age.

Lessons learned? Challenges?

It started out as an upside down toxic asset but with time and effort it became a positive cash flowing asset.

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

My real estate agent is Chelsea Guelcher and she is the absolute best.