Pure Buy & Hold

[Graham Bozarth]

Investment Info:

Single-family residence buy & hold investment in Junction City.

Purchase price: $58,000
Cash invested: $5,000

In February 2020, we purchased 1029 W Ash Street in Junction City, Kansas, as our first true investment property—one we did not have to live in. This was a key milestone in our real estate journey, marking the shift from owner-occupied purchases to acquiring pure income-producing assets.

The home was in a stable neighborhood with strong rental demand and required minimal work to get rent-ready. This allowed us to place tenants quickly and begin generating cash flow almost immediately. We chose it for its affordability, solid condition, and proximity to Fort Riley, which helps ensure consistent tenant interest.

1029 W Ash Street became a smooth, low-maintenance addition to our portfolio and reinforced the value of targeting well-located properties that require little upfront renovation while delivering steady, reliable income.

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

We were interested in this deal because it was a foreclosure located near a military base, which meant consistent tenant demand and low vacancy risk. It was our first purchase as a pure investment property without the need to live in it, allowing us to focus entirely on cash flow. The home was in solid condition and required only minimal repairs, including replacing a small section of flooring, removing trash, and improving curb appeal.

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

Looking at foreclosures and driving around the city.

How did you finance this deal?

Conventional Loan

How did you add value to the deal?

We added value to this deal by completing light but impactful improvements that made the property more appealing to tenants. This included replacing a small section of damaged flooring, removing trash and debris from the property, and enhancing curb appeal through basic landscaping and cleanup. These minor updates allowed us to quickly attract quality tenants while keeping renovation costs low, which helped maximize our cash flow from the start.

What was the outcome?

The outcome was a smooth and profitable first experience with a pure investment property. After completing minor repairs and cleanup, we were able to place tenants quickly thanks to the strong demand near the military base. The property began generating steady cash flow almost immediately, with minimal ongoing maintenance needs.

Lessons learned? Challenges?

Lessons Learned - Having a reserve fund is essential. This property was our first experience with a non-paying tenant during COVID, and state eviction bans made the situation more difficult. We learned how the eviction process works and the importance of being financially prepared.

Challenges - COVID restrictions prevented us from evicting a non-paying tenant, creating financial strain and delaying cash flow.