Primary home /Rental Convertion
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $198,000
Cash invested: $15,000
Primary home .Purchased Right at the Pandemic explosion. Lived in it for 1 yr and 9 months and converted it to rental
What made you interested in investing in this type of deal?
Increasing my Networth and building Generational weath
How did you find this deal and how did you negotiate it?
On market deal. Seller was asking 220k.Got it under contract for 215k and after inspection negotiated to 205k.Appraisal came in low at 198k so renegotiated at the appraisal price
How did you finance this deal?
Conventional financing
Lessons learned? Challenges?
Should have negotiated appraisal first and then negotiated repairs after that