Single Fam - Starter + Equity

[Craig Beringer]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $285,000
Cash invested: $40,000

Starter home that’s been completely redone (by us primarily). Peaceful, private and with lots of great local places and activities.

What made you interested in investing in this type of deal?

First house my wife and I bought. Market was turning and we wanted to start building some equity.

How did you find this deal and how did you negotiate it?

Zillow. Worked with our realtor and her network to accelerate the deal.

How did you finance this deal?

FHA.

How did you add value to the deal?

Wrote a letter to the seller and offered to move quicker.

What was the outcome?

Got a great purchase price and we’re able to refinance within a couple years to a 20 year with super low interest.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Lisa Murphy (she’s fabulous).