Home converted to long term SFR

[Brian Hellinger]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $109,000
Cash invested: $75,000

This was my first home I bought that I converted to a rental when I moved to my existing home. I have typically rented to friends and family and not prioritized the cashflow and focused on letting the tenants pay the mortgage.

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

I didn't want to sell it figured I could hold it and rent it and gain from appreciation in the long run.

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

Was my home.

How did you finance this deal?

traditional financing.

How did you add value to the deal?

I have added a additional bathroom in the basement.

What was the outcome?

still holding and renting.

Lessons learned? Challenges?

Challenges are renting to family, they don't always bring you the issues.

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

no