3/1 Single Family Home In Lawrence, KS
Investment Info:
Single-family residence buy & hold investment in Lawrence.
Purchase price: $125,000
Cash invested: $10,000
3 / 1 single family home that we pay $900/month on. Rent is $1500 so we cashflow $600 / mo. We fixed it up while living in it, so it now has a really charming feel, and a (basically) new kitchen.
What made you interested in investing in this type of deal?
We bought the house to live in, did some work on it, learned a LOT about the buy and hold rental game (why no one ever taught us this stuff, idk). We thought a lot about selling it for profit after 2 years living. Decided to hold and rent instead. SO GLAD we did.
How did you finance this deal?
Conventional. 5% down primary residence.
How did you add value to the deal?
Re-did kitchen, removed 3 walls, over time painted and "improved" every single area.
What was the outcome?
Cashflowing $600 / mo!