our first investment property
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $259,000
Cash invested: $65,000
The house is a 4 year old 1400 sqft single family unit.
What made you interested in investing in this type of deal?
We wanted something in the $250,000 price range.
How did you find this deal and how did you negotiate it?
We have a great realtor. She got us the price we wanted and even assisted in getting a tenant for us.
How did you finance this deal?
We have a conventional mortgage.
How did you add value to the deal?
This was a turn key property.
What was the outcome?
Tenant is in the unit and we have a $375 positive cash flow.
Lessons learned? Challenges?
Find a good realtor.