Our first investment
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $310,000
Cash invested: $95,000
This is our first real estate investment in the US. Hoover is a nice suburban area of Birmingham, Alabama. It offers great outdoor activities and highly rated public schools, making it a pleasant and convenient town to live in with family.
What made you interested in investing in this type of deal?
Some cities in Alabama are steadily growing; it is landlord-friendly, and the rental market is dynamic. The median price is still affordable.
How did you find this deal and how did you negotiate it?
I studied the market and read extensively about the Sunbelt regions, and I found that Hoover has many positive aspects. I traveled to Birmingham and met with an excellent agent who helped me purchase the house.
How did you finance this deal?
30% down payment and 70% fixed interest 30-year loan.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Mahek Virani is my agent in Hoover, AL. I recommend her. If you want to get in touch with her, let me know.