Updated almost 4 years ago on . Most recent reply
My first property!!!
Investment Info:
Single-family residence buy & hold investment in Lansdale.
Purchase price: $165,000
Currently working on my first BRRRR
What made you interested in investing in this type of deal?
I saw this post on the MLS a day before it went on the market. I noticed it was severely undervalued, so I had to take a look. I was interested as it was close by to my current residence and it was listed at a price that was comfortable to me.
How did you find this deal and how did you negotiate it?
Found this deal on the MLS.
I bought this house 16k over asking price through an escalation clause, and waived the inspection. My father is a retired union carpenter, so he did an inspection for me.
How did you finance this deal?
Conventional 10% Down Payment
How did you add value to the deal?
The house was appraised 10k over my purchase price. Additionally, I am working on a full kitchen and bathroom rehab
What was the outcome?
I am still working on the rehab now.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Worked with a great agent in the Philadelphia area, Josh Pagan. I would highly recommend him.
Most Popular Reply
Congrats on the first property!