Single Family Syracuse

[Toby Gingold]

Investment Info:

Single-family residence buy & hold investment in Syracuse.

Purchase price: $40,000
Cash invested: $40,000

Purchased a single family for first investment to test the waters - did this because of strong cash flow, Goal was to offset my rent in NYC with investment properties upstate. Purchased all cash, may refi and go get another deal but will likely just hold and sell in three years time when expenses will start eating at cash flow assuming 0 appreciation.

What made you interested in investing in this type of deal?

Strong Cash Flow

How did you find this deal and how did you negotiate it?

Off Market - Through a broker

How did you finance this deal?

Cash

[Toby Gingold]

I would definitely do it all again. I had a rocky start collecting rent, I opted to go with Section 8 tenants (which has come in handy now because I have more rent security than I would otherwise) but at the start there were issues with the programs and getting the rent every month and I took an initial hit that was pretty bad. The things that happened were somewhat out of my control so I wouldn't change anything, good learning experience. The single families have cash flowed very well so far even with my issues. Just wish I started sooner, just bought my third property in a year last week!