Updated over 2 years ago on . Most recent reply
1st rental property
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $105,000
Cash invested: $15,750
3/1 SFH. 710 Sqft. Tenant had just moved in while we were closing
What made you interested in investing in this type of deal?
Turn-key deal with a tenant moving in during closing period
How did you find this deal and how did you negotiate it?
This was given to me as an off-market deal by my Real Estate agent
How did you finance this deal?
Conventional loan with 15% down
What was the outcome?
Home appraised for a couple thousand more than we paid.
Lessons learned? Challenges?
much older house so im assuming I will run into unforeseen issues, but currently dont have anything
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I worked with Collin Caldwell with FIRE Team Realty. He was fantastic to work with. Provided lots of knowledge along the way and was always reachable. Went out of his way to do things we needed. Will be going back to him for future properties.