All Forum Posts by: Belsy McDonald
Belsy McDonald has started 1 posts and replied 1 times.
Post: Our first rental / RB&B property.
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Investment Info:
Small multi-family (2-4 units) buy & hold investment.
Purchase price: $154,000
Cash invested: $7,000
I am including few repairs to the cash invested. 3-2 each side Duplex
What made you interested in investing in this type of deal?
Husband and I have always been involved in real estate. Purchased and sold owner finance until 2008. We did not know how to scale. We are testing the waters with rentals.
How did you find this deal and how did you negotiate it?
MLS
How did you finance this deal?
I work for Gov agency and travel a lot. I saved my perdiem for downpayment. Since l, I was able to prove I I am station out Waco, I was able to use it as a primary and my home as a secondary. Via FHA
What was the outcome?
I rented one side and RB&B the other side.
Lessons learned? Challenges?
Next time I will let an agent rent the property for us.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, Karen Nichols with Kelker William's.
