First Investment I made at 21!
Investment Info:
Townhouse buy & hold investment in Raleigh.
Purchase price: $115,000
Cash invested: $15,000
Bought home in Raleigh North Carolina as a starter home for rental properties. Property originally foreclosed on. Minor Remodeling inside and complete front yard make over. Equity over 90k+.
Now I've helped many buyers find investment properties in North Carolina, Tennessee, South Carolina, Virginia, Georgia, Louisiana, Arizona & Delaware. Currently Branching out into Texas and Florida.
What made you interested in investing in this type of deal?
I knew that it would pay off once I attended Nursing School and Business School. My plan was to keep it for two years and sale it once I graduated Nursing school to pay off debt. I saw how fast the surrounding area was being bought up by investors so I decided to hold and rent out.
How did you find this deal and how did you negotiate it?
I had a aggressive realtor who met my aggressive negotiating technique! It was with a Bank at That!! You want me on your team!!
How did you finance this deal?
Through the Bank with Great Credit!
How did you add value to the deal?
I am a amazing limited architect with a father who owns a construction/ remodeling business. He taught me how to remodel. I taught myself how to design front yard based on trends, median income of the surrounding houses (this plays a heavy part), surveying and staying on top of draw points.
What was the outcome?
My property is almost worth double what I bought it for! A friend/ investor ive worked with who trusted me with his search for his first rental property, now has a property he bought at 120k is now worth 345k. I've always been very adamant on watching trends and data. That paired with my aggressive approach to working deals has paid off this far! Yes, I'm Still a Nurse!
Lessons learned? Challenges?
NEVER GIVE UP! A no is only a NO because a mutual ground hasn't been found yet!