My First Single Family Rental

[Ryan Baxley]

Investment Info:

Single-family residence buy & hold investment in Waco.

Purchase price: $75,000
Cash invested: $21,000

Purchased my first REMOTE single family home in Texas.

What made you interested in investing in this type of deal?

Listening to the Real Estate Guys (highly recommend their podcast) I had heard so much about investing out of town. There big motto is "Live where you wanna live, invest where the numbers make sense". So I did. I learned about the excellent cap rates coming from some of the smaller towns around TX and decided to take a trip!

How did you find this deal and how did you negotiate it?

Zillow. I also used a local Agent from Waco

How did you finance this deal?

Bank loan

What was the outcome?

The property produced a 11 - 13% cap over two different leases/tenants and I ended up selling it for a nice little profit.

Lessons learned? Challenges?

Managing properties on your own is great for the experience, but only if your time isn't better spent somewhere else...

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes! Lisa Scott from Greater Waco Realty was awesome! And with me being from out of town, her guidance throughout the process was absolutely vital.