Our first investment

[Andrea Chester]

Investment Info:

Single-family residence buy & hold investment in Charlotte.

Purchase price: $209,000
Cash invested: $2,000

3bed/2bath, SFR

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

We found it on the MLS. Our family was in town visiting and went to see it for us during an open house. There was a lot of interest but our bid won!

How did you finance this deal?

VA loan. We lived here for two years before renting it out.

How did you add value to the deal?

We did minor cosmetic updates like paint, small updates to bathrooms, etc.

Lessons learned? Challenges?

We live out of state so we are managing this property from afar. That has been a challenge of its own. Thankfully our tenants have been great so far.