Second Purchase with low/no money down.

[Zachary Coombs]

Investment Info:

Single-family residence buy & hold investment in Waynesboro.

Purchase price: $50,000
Cash invested: $50,000

Listed for 75k, offered 50k cash to close in 2 weeks. Had tenant with lease through 02/2021 in place paying $850 and all utilities.

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

Low cost to income ratio.

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

On MLS, through realtor.

How did you finance this deal?

Fund and Grow business credit cards.

How did you add value to the deal?

N/A

What was the outcome?

Still holding, same tenant. In process of cash out refinancing.

Lessons learned? Challenges?

Begin refinance earlier.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Nancy Allison Coldwell Banker in Chambersburg, PA

[Will Fraser]

Nice pickup, @Zachary Coombs!  

Can you unpack your funding strategy here?  DId you use one card with a $50k limit or a few different cards?  How did you specifically get that money to the title company?

Way to go with #2 with nothing down!