Updated over 5 years ago on . Most recent reply
First rental property
Investment Info:
Single-family residence buy & hold investment in Coeur D Alene.
Purchase price: $127,500
Cash invested: $10,000
Originally bought as a primary residence. We had to update all the windows soon after moving in. Before moving out we replaced 75% of the flooring and put in granite countertops and tile backsplash in the kitchen. The property has been rented since 2017.
What made you interested in investing in this type of deal?
I saw it as a good investment for the future.
How did you finance this deal?
VA loan.
How did you add value to the deal?
Updated windows, replaced 75% of flouring in the house, Updated kitchen.
What was the outcome?
A cash flowing rental
Lessons learned? Challenges?
Make sure you know what you're buying. I assumed the garage had a concrete floor, but when I moved in and cleared it out all I found was a dirt floor.