Updated over 4 years ago on . Most recent reply
SFR In Vegas since 2016
Investment Info:
Single-family residence buy & hold investment in Las Vegas.
Purchase price: $215,000
Cash invested: $20,000
House hack for the first few years we lived in it. Put solar panels on it and are charging above market rent including the electricity.
What made you interested in investing in this type of deal?
Easy deal. Moved out of my original home and rented that after a year of ownership. Now this house rented with minimal out of pocket cost they could easily be refi'd out now.
How did you find this deal and how did you negotiate it?
MLS, Wife was an agent. She found it and was paid to sell herself the property.
How did you finance this deal?
Conventional, owner occupied loan
How did you add value to the deal?
Added Solar panels to the house. Small remodel in the bathrooms, paint, and a kitchen backsplash.
What was the outcome?
A brilliant house that took care of us for a few years and now it producing a hefty cash flow.
Lessons learned? Challenges?
Trying to convince a loved one to move out of a house they really like to put another door on the books is difficult and takes time.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I'm an agent now. Reach out if you would like to talk.