Our First Property is Now Official
Investment Info:
Single-family residence buy & hold investment.
We picked up a 2/1 SFH as a buy and hold investment in Huntsville, Alabama.
How did you find this deal and how did you negotiate it?
While interviewing Property Managers, one mentioned a deal she had just received from a wholesaler. We offered about 7% under asking and it was accepted. She forwarded the details and we made an offer the next day. It was accepted the same day with a 7 day escrow.
How did you finance this deal?
Private money loan.
How did you add value to the deal?
We will put approximately $7k into it and rent it out at a rate that exceeds the 1% rule (1.2%).