My First Rental Property

[Leah Israel]

Investment Info:

Industrial buy & hold investment in New Orleans.

Purchase price: $124,000
Cash invested: $30,000

Family Owned for over 30 years
I purchased the property and took ownership to keep it in the family and relieve my grandmother of her financial burdens

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

Wanted to have a rental property, this was a great one to start

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

My grandmother, it was our family grocery store and had'nt been the same since Katrina in 05. No renovations, no love had been put into it.

How did you finance this deal?

Personal Loan

How did you add value to the deal?

Invested about 30k that included roof, siding, painting, cleaning, etc.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Worked with a real estate agent to find me a tenant that would rent for $1300 monthly