My first investment property, purchased in June 2020 a 1 bed 1 bath house. The house needed a decent amount of work, which I did mostly myself, and some family members I convinced to help! The property doesn’t produce a ton of cash flow, but opened the door to me of real estate, and is a very hands off investment at this point!
Hold duration: Long term hold 10+ years.
Purchase Details:
Price: $31,000
Renovations: $4,000 + sweat equity.
Current Financials:
Rents: $625/month
Valuation: $55,000
Equity generated: $20,000
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Short Description:
Long term hold
Cash on Cash Return - 8%
Equity Multiple- 1.6X - City, State: June 2020
