Updated over 4 years ago on . Most recent reply
Buy / Hold / Rent Investment
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $127,500
Cash invested: $25,500
The property was an MLS listing, turnkey townhouse with No HOA . Upgrades were completed 2 years prior, minimal rehab, added a new roof, then rented 45 days after close.
What made you interested in investing in this type of deal?
Instead of waiting, only to eventually find an excuses not to invest. I jumped at the chance to buy a property and begin our rental investment path.
How did you find this deal and how did you negotiate it?
We located the deal on MLS and had a real estate agent/investor validate the property by video walkthrough, we never had the opportunity to see the property and our first investment property was a long distance deal.
How did you finance this deal?
Investment loan at 20% down
What was the outcome?
We were fortunate the property has increased in value by $6000 within the first year and our CoC is at 12.63%.
Lessons learned? Challenges?
Our first challenge was taking on a long distance property right out of the gate. Too many lessons learned, however, jumping into the RE investment game was the smartest teacher.
