Single-family residence buy & hold investment in Palmdale.
Purchase price: $195,000
Cash invested: $4,000
Soon to be my first Simi rehab and sale 😀
What made you interested in investing in this type of deal?
Could tell market was dropping and decided now was the time to purchase our first property using the buy and hold method to start
How did you find this deal and how did you negotiate it?
Bank REO and new there was a program to stimulate buying offering $7500 cash back for buying a house at the end of the year.
How did you finance this deal?
FHA at the time 2% down =$4000
How did you add value to the deal?
By getting my $4000 back plus $3500 at tax time
What was the outcome?
Lessons learned? Challenges?
Stick with your strategy run the numbers prepare as best you can
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No just me and plenty of Robert kiyosaki books
I'm thinking of investing in Palmdale using the BRRR method. I'm curious if you'd be willing to share any updates on this or any insight on how you went about finding the property. Thanks.
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