Updated about 5 years ago on . Most recent reply
Single Family Home Rental
Investment Info:
Single-family residence buy & hold investment in Hillsboro.
Purchase price: $215,000
Cash invested: $12,000
Detached Single Family Home, 3Bed 2.5Bath, 1,400sf. Tenant pays utilities. I pay HOA fees which cover lawn and irrigation maintenance.
What made you interested in investing in this type of deal?
I like single family class A/B homes because the tenants tend to be better and longer term, and the rental market in our area for this type is strong with many large companies and urban centers nearby.
How did you find this deal and how did you negotiate it?
We bought this as a primary residence so the deal was a pretty standard.
How did you finance this deal?
Conventional 30year loan as a primary residence.
How did you add value to the deal?
The house was/is relatively new with low expenses already... we were able to get close to top dollar rents for this type of property from Day 1.
What was the outcome?
We lived in the house as a primary residence for 3 years, then converted it to a rental when we needed to upgrade our primary residence for our growing family. After loan servicing and expenses (yes, including capex, maintenance, HOA, etc.) its still cashflowing roughly $100/month.