Updated over 6 years ago on . Most recent reply
Single Family Buy & Hold in Syracuse, NY
Investment Info:
Single-family residence buy & hold investment in Syracuse.
Purchase price: $74,000
Cash invested: $23,000
Trying out my first single family rental in Syracuse, NY (Eastwood). Purchased off MLS in December for $74,000, 15 year fixed conventional mortgage with 25% down. Rented out in mid-January for $1125. Hoping for longer tenant duration, less intensive maintenance, and more potential appreciation.
What made you interested in investing in this type of deal?
Low maintenance, trying out a single family investment
How did you find this deal and how did you negotiate it?
MLS
How did you finance this deal?
Conventional financing, 25% down
How did you add value to the deal?
Cleanup, cosmetic upgrades, light paint
What was the outcome?
Leased for $1125/month on 15 month lease