Updated over 3 years ago on . Most recent reply
My first and only investment at the moment.
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $53,000
Cash invested: $15,000
Rental property
What made you interested in investing in this type of deal?
Money!
How did you find this deal and how did you negotiate it?
In the traditional way. I got an FHA loan and lived in the property for a year or so.
How did you finance this deal?
I saved
How did you add value to the deal?
I don't know if I did long-term. But short term I've updated the property throughout the years.
What was the outcome?
Mailbox money
Lessons learned? Challenges?
I learned that I should look more thoroughly at the challenges of property offers before buying instead of buying because I like the way it looks.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I had a real estate agent. She is deceased now.