Litchfield Park SF Rental
Investment Info:
Single-family residence buy & hold investment in Litchfield Park.
Purchase price: $75,000
Cash invested: $30,000
Sale price: $206,000
This was a great little rental in a good neighborhood. Initially it was difficult to find good tenants - people were still loosing jobs in Phoenix at the time of purchase.
What made you interested in investing in this type of deal?
A good friend of mine generously shared her knowledge of the Phoenix metro area. The prices were great and the rent rates were stable - a win all around.
How did you find this deal and how did you negotiate it?
This was a short-sale property. Not much to negotiate at the time.
How did you finance this deal?
Traditional investment financing with 25% down.
How did you add value to the deal?
The house was in great condition at the time of purchase. I did a few updates in 2017 prior to sale.