All Forum Posts by: Adrian Lemus
Adrian Lemus has started 20 posts and replied 131 times.
Post: My first house purchase
- Contractor
- West Palm Beach, FL
- Posts 142
- Votes 49
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $169,900
Cash invested: $25,000
Sale price: $269,000
I first bought the house as to keep a primary residence and the price point was too good to pass up.
What made you interested in investing in this type of deal?
Never thought of it as an investment until my brother in law came for a visit and gave me his advise which I didn't agree on but I did sit on the idea for a while.
How did you find this deal and how did you negotiate it?
This how came about shopping for over 2 months looking for the right price
How did you finance this deal?
My first purchase was done through FHA
How did you add value to the deal?
I Held onto it until the Market started getting stronger again.
What was the outcome?
As my brother in law predicted I was able to sell the house for $269,000 and got my first taste of what real estate can do for me
Lessons learned? Challenges?
Patience and listen to those that have the experience and is willing to share it with you.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
Yes