Looking for rental? I might sell.
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $155,000
Cash invested: $62,000
May sell. Great home. Flooring could be replaced if primary. However, for rental it's fine. Doesn't stay vacant for more than 1 month unless I'm working on it.
What made you interested in investing in this type of deal?
Location. Buy/hold long-term rental.
How did you find this deal and how did you negotiate it?
MLS. Standard offer.
How did you finance this deal?
Commercial loan w/20% down.
How did you add value to the deal?
Refinished kitchen cabinets. New Heat Pump (2022) upstairs. Added carpet (stairwell & upstairs). All new fixtures, ceiling fans. New deck. Flooring installed, but would replace if it's going to be a primary residence (too thin).
What was the outcome?
Stays rented.
Lessons learned? Challenges?
Should have done bonus depreciation when I bought. Shouldn't have paid all loan too soon.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No.