Updated over 4 years ago on . Most recent reply
Katy Texas Single Home purchase
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $250,000
Cash invested: $250,000
Took equity out of my California home as I am a long term resident in California and feel confident in the market
What made you interested in investing in this type of deal?
Been looking for a single family property, where my HELOC monthly payback would be less than what I could get for rent. Challenge was that there is a 10 year pay down period in a HELOC, then you can refinance up to 20 years (mortgage)
How did you find this deal and how did you negotiate it?
Found an agent, via Dave Ramsey, who lives and works in the area. He had a good rapport with the listing agent. Did not get the greatest deal, but it met my criteria
How did you finance this deal?
HELOC
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Jason Muse, Real Estate agent out of Cypress TX
