1st investment property
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $207,900
Cash invested: $45,000
Single-family home with a lot of creek running through a green belt in the back.
What made you interested in investing in this type of deal?
I knew it would rent, and with my VA home loan at 3% it would cash flow.
How did you find this deal and how did you negotiate it?
An agent found it. I haggled a little and and offered them a way free of their HOA president disputes and disagreements.
How did you finance this deal?
100% $0.00 closing through my preferred lender
How did you add value to the deal?
I cleared the eye sore of a back yard and beautified it. I bought it from a desperate seller. My GC re-built an exterior wall and and a master bathroom Shower, etc.
What was the outcome?
I got a great deal that cash flows type b in a great area with great schools
Lessons learned? Challenges?
HOA's can difficult to work around
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Agents lenders GC and subs