Updated almost 4 years ago on . Most recent reply
Our First Investment
Investment Info:
Single-family residence other investment.
Purchase price: $440,000
Cash invested: $40,000
Used as Airbnb / VRBO short term rental property. 3/2 cabin in the mountains on 2 acres.
What made you interested in investing in this type of deal?
We wanted a vacation home for ourselves and to let it pay for itself.
How did you find this deal and how did you negotiate it?
We had a Realtor in Georgia that I found through my own brokerage and she found the property for us and did all the negotiating on our behalf.
How did you finance this deal?
We financed it as a second home (not as an investor) with a conventional mortgage with 10% down .
How did you add value to the deal?
Being a real estate professional myself helped us know how to negotiate items that arose during the process.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes, definitely. I would recommend my mortgage broker, David Rosenthal with USA Mortgage and our Realtor Chris Young with Keller Williams located in Woodstock Georgia.
