Updated over 6 years ago on . Most recent reply
this was my first investment house that I bought.
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $50,000
Cash invested: $15,000
this is a 3 possibly 4 bed 1 1/2 bath 1500sqf house.
What made you interested in investing in this type of deal?
I wanted to get started into investment properties, I call a friend who is a realtor and asked him to find me a few good houses to look at. I could not afford anything bigger or nicer at the time, so I figured I had to start somewhere.
How did you find this deal and how did you negotiate it?
my friend who is a realtor found it for me, it was a bank owned at the time.
How did you finance this deal?
with a 30 year conventional loan.
How did you add value to the deal?
I put in a new kitchen and paint with new carpet.
What was the outcome?
the vale of the house of the property has gone up about $25K
Lessons learned? Challenges?
I need to learn more about buying houses.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
everyone one at Rise reality has been great to work with.