Investment Info:

Single-family residence buy & hold investment.

Purchase price: $1,550,000
Cash invested: $18,000

3 bed 2 bath home 1800sqft built in early 1900's in Covington Ky about 5 minutes south of Cincinnati OH.

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

We bought as a primary residence with the plan to rent it out when we moved.

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

This deal was on the MLS and we bought conventionally

How did you finance this deal?

we bought with 20% down conventional 30 year loan but we refinanced to a 2.25% interest rate 15 year fixed rate loan in 2021.

How did you add value to the deal?

This house was entirely renovated by the previous owner, so not much work was needed. In the 4 years we lived there before we started renting it we replaced all of the windows and the furnace/ac unit.

What was the outcome?

We now rent it for $1900/mo with a $1200/mo mortgage payment on a 15 year loan.