First House 1100 sq ft 2bed 2 bath

[Nick Dunn]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $48,500
Cash invested: $3,000

1100 sq ft 2bed 2 bath on two acres wooded. Cabin style home

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

First house I purchased lived in it for 4 years then upgraded into larger home and rented this one out

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

Friend said his neighbor wanted to sell

How did you finance this deal?

Bank loan

How did you add value to the deal?

Cleared out woods refinished exterior and interior

[Jay Toluganti]

Congratulations.. what the numbers are saying about potential income when you underwrote it? How strong is the rental demand in the area? Did you get an opinion from a home inspector on what deferred maintenance issues you need to tackle in next 5 years? Did you put those numbers in your underwriting?