Destrehan Townhouse Rental
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $154,000
Cash invested: $10,000
3 Bedroom, 2 Bathroom Townhouse.
What made you interested in investing in this type of deal?
The school district near me makes it a no brainier for entry level rentals, lots of people looking to relocate to get their children into better schools.
How did you find this deal and how did you negotiate it?
I bought it from my former neighbors. They were looking to move off the grid in Alaska and wanted to get out of town fast.
How did you finance this deal?
Conventional 5% down mortgage.
How did you add value to the deal?
I've remodeled a lot of the property on my own, so this is my value added contribution.
What was the outcome?
Looking to get the property rent ready to have ready for Summer 2019.
Lessons learned? Challenges?
Do a more thorough inspection on the property and it's appliances (hot water heater, a/c unit).