Updated over 6 years ago on .
Introduction to Real Estate Investing
Investment Info:
Single-family residence buy & hold investment in El Paso.
Purchase price: $110,000
1st purchase; 3/2 New construction
What made you interested in investing in this type of deal?
Initial investment; Intro to REI
How did you find this deal and how did you negotiate it?
Searched for last units available from spec builders in the area; negotiated upgrades and landscaping for $3k under asking
How did you finance this deal?
VA Loan
How did you add value to the deal?
Upgraded landscaping and had concrete patio added to back yard
What was the outcome?
Quick & consistent rental history as leases usually end in summer; prospective tenants enjoy outdoor seating/patio area
Lessons learned? Challenges?
Over-improved yard; Too low on rent amount (initially concerned with getting renters in, neglected cash-on-cash return)
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Debbie Toothman w/ Century 21: great agent