my first investment was turn key

1 Reply

Investment Info:

Single-family residence buy & hold investment in Covington.

Purchase price: $82,000
Cash invested: $82,000

property appraised for 130k and I made a cash offer of 80k We settled on 82k. I had a lease signed within 4 hours.

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

I was ready to make a move. I quit my job and didn't have the luxury of dragging my feet

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

this home found me. Originally the lady wanted 95k and I walked away saying it was too much. A couple weeks later she called and said 90k, I countered with 80, she said 85,and finally I said 82.

How did you finance this deal?

cash

How did you add value to the deal?

new paint was all it needed

What was the outcome?

This was my first experience and it went great to this day.

Lessons learned? Challenges?

Don't hesitate to walk away

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

no

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