SE Grand Rapids Single Family Home

[Nick Paquet]

Investment Info:

Single-family residence buy & hold investment in Grand Rapids.

Purchase price: $200,000
Cash invested: $10,000

6 Bed 2.5 bath Victorian home

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

This deal was my foot in the door to real estate investing. Low money down and immediate cashflow made it possible.

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

MLS

How did you finance this deal?

The deal was financed with a traditional mortgage. Our lender allowed us to put only 5% down on a conventional loan.

What was the outcome?

The property is cash flowing at $1000/mo

Lessons learned? Challenges?

Old houses need a lot of care. Finding long-term tenants is very valuable.