My second real estate transaction

[Erik O'Grady]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $240,000
Cash invested: $48,000

Primary Residents to be converted to rental

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

Friend owned it and could be purchased off market.

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

Found it via a "friend" and did a poor job negotiating the deal

How did you finance this deal?

Bank Financed

How did you add value to the deal?

Improved the kitchen, patio and front stoop.

What was the outcome?

Currently living here until we rent it out.

Lessons learned? Challenges?

You make your money on the front end of the deal and know your numbers.