All Forum Posts by: Dan Benton

Thanks. Appreciate it. We have renter lined up already for july 1 move in as well.

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $156,500
Cash invested: $8,500

2 bedroom 1 bath about 800 square feet each side.

What made you interested in investing in this type of deal?

Just looking to grow with each new purchase

How did you find this deal and how did you negotiate it?

For sale by owner. Came across while hustling delivering food for more investment cash.

How did you finance this deal?

FHA - owner occupied for one year plan

How did you add value to the deal?

We were preapproved and shared our goals with buyer. They were selling off after 30 years of investing

What was the outcome?

Great deal for both sides

Lessons learned? Challenges?

Had FHA already and did not realize can only have one. Was 2 weeks in when heard on bigger pockets podcast about fha restrictions

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I have a realtor I have worked with for 20 years and always refer her

@Mo Muigai in TN we closed at 6.125 on first Investment house. 8months later we got 5.25 on 2nd rental property

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $64,900
Cash invested: $8,900

2 bedroom 1 bath house built in 1946. Minimum rehab work on this one.

What made you interested in investing in this type of deal?

The idea of doing owner financing made this deal work for us.

How did you find this deal and how did you negotiate it?

I am on my real estate agents email list. She has it set so that I get automatic notifications based on certain criteria. We have used her for the last 20 years as we bought sold houses for personal use.

How did you finance this deal?

Owner financing

How did you add value to the deal?

We were able to move quickly with the deal in a 2 week time frame.

What was the outcome?

House purchase was successful. We are happy with the purchase. We are still trying to decide on traditional renters or setting it up as a travel nurse rental. We have been researching this for the last 9 months. We also have a connection at the local hospital.

Lessons learned? Challenges?

Biggest thing we learned is to check the type of pipes for plumbing. This gets very expensive quickly.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Yes our realtor and the title company. I also have an electrician that I use regularly now.