My first deal as an investor
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $50,000
Cash invested: $5,000
SF home that cash flows $200 after all expenses
What made you interested in investing in this type of deal?
The seller was willing to carry the note
How did you find this deal and how did you negotiate it?
Off market deal with seller financing
How did you finance this deal?
Seller carried the note
How did you add value to the deal?
Simple cosmetic rehab
What was the outcome?
I have a tenant that pays on time every month
Lessons learned? Challenges?
On some projects it is easier to outsource the work. I had many late nights trying to repair items that could've been done by a pro in a few hours.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
No