Updated over 4 years ago on . Most recent reply
My first investment project in 10 years.
Investment Info:
Single-family residence buy & hold investment in Saint Louis.
Cash invested: $5,000
Subject 2 - I Took over the payments on the current loan, now acting as the primary landlord.
What made you interested in investing in this type of deal?
The opportunity was available and I took it!
How did you find this deal and how did you negotiate it?
A family member was left with the property in an estate. I just took the burden off their hands.
How did you finance this deal?
Cash from savings.
How did you add value to the deal?
I fixed the pipes in the bathroom and painted the inside of the house. The mortgage was behind a few months as well.
What was the outcome?
It was a win for me and the tenet.
Lessons learned? Challenges?
Explaining to my family member that I was here to help, and gaining the trust to keep the mortgage in their name.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
My Financial Advisor has a real estate background. His name is Joel Poole, he walked us through the process very well.