Updated almost 5 years ago on . Most recent reply
Buy and hold investment property
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $149,000
Cash invested: $5,000
I purchased this house last month for a buy and hold, I replaced the floor and painted upstairs and downstairs. I bring in about $700 for cash flow. There's a possibility to put another house on the back lot.
What made you interested in investing in this type of deal?
My fiancé has done this with her house and by renting out each room you can produce more cash flow.
How did you find this deal and how did you negotiate it?
I used to be a tenant in this house and found out the landlord was selling it. We negotiated ourselves, we did not use a real estate agent which saved on commission cost.
How did you finance this deal?
I financed this on personal money
How did you add value to the deal?
Tore out the carpet in all the rooms and replace with click tile laminate flooring, this will be better in the long run.
