Updated over 6 years ago on . Most recent reply
2nd Investment Property
Investment Info:
Single-family residence buy & hold investment in Augusta.
Purchase price: $58,500
Cash invested: $15,000
Purchased this simultaneously with another property. Had same lender do a dual application, and both properties were approved for loans at the same time.
What made you interested in investing in this type of deal?
Cash flow
How did you find this deal and how did you negotiate it?
Realtor
How did you finance this deal?
Conventional bank financing
Lessons learned? Challenges?
This property was supposedly turnkey. However issues arose that proved otherwise. Plumping and the heating system were nonoperational, which didn't manifest until after tenants moved in.
