Our first deal was a success!
Investment Info:
Single-family residence buy & hold investment in Merced.
Purchase price: $67,000
Our first deal. Rehabbed and added full bathroom making it a 3-bd/3-ba. Used for house hacking and Airbnb.
What made you interested in investing in this type of deal?
This deal was too good to pass up and we wanted to get our feet wet in real estate investing. It was the perfect property for long-term buy and hold, plus we had good insight that it would appreciate and cash flow well.
How did you find this deal and how did you negotiate it?
Found it on the MLS. Negotiated the deal with the help of our Realtor.
How did you finance this deal?
Conventional financing.
How did you add value to the deal?
Rehabbed it and added a full bathroom later down the road.
What was the outcome?
Have used it for house hacking and Airbnb. Also, pulled equity from it to finance another deal.
Lessons learned? Challenges?
Great learning opportunity on financing as well as rehabbing. No major challenges.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, investor-friendly Realtor, Sarah Rodriguez. Highly recommend her. Message me for her contact info or look her up on Century21.