1st Investment Property!!

4 Replies

Investment Info:

Single-family residence buy & hold investment in Statesboro.

Purchase price: $45,000
Cash invested: $7,600

Bought my first investment property recently and received the first of many rent checks this month. It’s never felt better to see the reward for putting in all of the hard work associated with my 9-5 job and rolling that into preparing for my future!

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

I needed to act and not sit on my hands and do nothing. You sometimes need to jump and grow your wings on the way down. Experience is key when retaining knowledge

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

My realtor found it for me. Did the normal haggling but made sure to keep my number at or below what I needed it to be.

How did you finance this deal?

Bank lending

How did you add value to the deal?

I raised the rent by $50 per month.

What was the outcome?

Currently being rented by a young professional couple.

Lessons learned? Challenges?

You won’t get anywhere in life if you don’t step. Even if it’s a small step, you’re still moving. Learned a lot of the hidden fees and expenses when purchasing rental properties.

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

Ronald Love of Century 21

@Justin Dyches Congrats! You've taken the action many folks never can. 

It's a great feeling getting that first property under your belt. Enjoy the feeling for a little bit then set a new goal to crush!

Best of luck on your next deal!

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