My First Rental In Cleveland, Ohio
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $100,000
Cash invested: $3,800
My first rental property.
What made you interested in investing in this type of deal?
I bought this house to rent it out for more cash flow.
How did you find this deal and how did you negotiate it?
I found the property on zillow. And told the real estate company I would buy it, but only if I can have it for no money down.
How did you finance this deal?
I have a mortgage on this property.
What was the outcome?
I am celebrating my 1 year of this property being rented.
Lessons learned? Challenges?
I learned you can make nice cash flow from rental and honestly everything went and is going smoothly.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I did use rentalutions.com to screen and advertise the property and located an out of state tenant that is currently renting this property. I would use their service again.
Most Popular Reply
I'm curious about the mortgage as well. Was this just an FHA that you did under the premise of being an owner occupant or did you live in it before renting it? Or something other we should all know about?