Updated about 5 years ago on . Most recent reply
My first ever investm,ent!
Investment Info:https://www.biggerpockets.com/...
Single-family residence buy & hold investment in Newton.
Purchase price: $47,500
Cash invested: $11,000
Two bedrooms, one bath, with a basement and one car garage.
What made you interested in investing in this type of deal?
It was almost entirely turn-key and required very little work. Since I'm still in high school, it's exactly what I needed.
How did you find this deal and how did you negotiate it?
It was for sale by the owner, and my initial offer was accepted.
How did you finance this deal?
I went through a bank and got a loan using my income from my part-time job.
How did you add value to the deal?
I didn't add a lot through renovations, but I did purchase it somewhat under market value.
What was the outcome?
I got it rented to a quality tenant within the first two weeks of closing!
Lessons learned? Challenges?
I haven't run into any surprises yet, but of course, time will tell me what I should have done differently.