Updated almost 5 years ago on . Most recent reply
Buy and hold covers a multitude of sins.
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $42,000
Cash invested: $1,500
The cashflow has continued to increase as rents have increased. I've continued to make minor improvements along the way. The property is now worth about $65K. I am about to refinance $20K out to use for another deal. It will still cashflow about $100 after refinance, Cap-Ex, Management, and Maintenance.
I've had this for 16 years.
What made you interested in investing in this type of deal?
I was looking for some side income and investing for retirement.
How did you find this deal and how did you negotiate it?
It was on the MLS. I negotiated through my real estate agent.
How did you finance this deal?
I offered a higher price with cash back from seller and purchased early in the month to decrease my cash out of pocket up front. I purchased as a long term rental.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
It was a long time ago. I don't remember who the agent was.