First real estate deal
Investment Info:
Single-family residence buy & hold investment in San Antonio.
Purchase price: $119,000
Cash invested: $55,000
Single family home in Shenandoah neighborhood
What made you interested in investing in this type of deal?
First deal and an estate sale. Knew I wanted to get into real estate as an active investment strategy for sometime.
How did you find this deal and how did you negotiate it?
Both parents are real estate brokers and savvy about the local real estate market.
How did you finance this deal?
Creative financing
How did you add value to the deal?
Gutted and "flipped" the home and then long term hold with tenant. First home though and lived there at first.
What was the outcome?
Success and currently hold.
Lessons learned? Challenges?
Hands on gutting, painted and fixed most if not all of house. Had to learn about property management and evict a tenant down the road.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Just personal contacts