My very first rental property in Cedar Rapids, IA
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $70,000
Cash invested: $7,200
My very first rental property. 4 bed 1 bath brings in $1050 a month in rent.
What made you interested in investing in this type of deal?
It was a good entry into real estate investing and provided great upside with a little work to the property.
How did you find this deal and how did you negotiate it?
This deal was found with the help of my property manager who had another investor willing to sell in order to get into a bigger deal.
How did you finance this deal?
10% investment loan with a local credit union.
How did you add value to the deal?
Paint, new doors, general cleaning.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Lucas Burrington and AMMT Property Management in Cedar Rapids, IA.