All Forum Posts by: JoAnna Gallastegui

Investment Info:

Single-family residence buy & hold investment in Alexander.

Purchase price: $102,000
Cash invested: $25,000

Our first property! SFH in Akron, OH

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

We want to include Buy and Holds as a component of our portfolio.

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

BP Turnkey List. They helped us streamline everything.

How did you finance this deal?

Cash downpayment and long-term conventional loan.

How did you add value to the deal?

Cash payment.

What was the outcome?

We needed to get started on something, and learn from the process of it, any mistakes and all. So we finally were able to dive in and get started, so we can have outlooks for future projects, something to base it off of.

Lessons learned? Challenges?

Keep running numbers! Verify fees because they post fees but they are just a snapshot of what you might have to deal with, could be +/-. And there were some tricky components with PM to get started, but it got cleared up and so far it's going fine.

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

For financing, Highland Mortgage was helpful to get started, and now we are with Mr. Cooper which seems to all be going well so far. The members at BP, although new people were contacting us all the time, they really streamlined the help every step of the way.

Hello again - A while back, I found this from last year from BP: https://www.biggerpockets.com/...

I hope that link works. Here's another option:

https://www.hnrusa.com/post/a-...

I ended up doing lots of searches and trying to save links and copy and paste, including charts. So my info is a currently unorganized 'collection' of research! 

Re:Dogs

I was thinking myself of the dog idea and was glad to see several here post about it. However, is it even possible to do that when showing other owners' properties? I mean, do you ask them for permission to bring your dog on their property for safety during showings?

We would also be interested in this! I'm doing some digging to see if there are any examples around. I've been looking for related 'checklists' and 'due diligence,' and just general 'guides' to investing in /managing rental properties to get started. There's a lot of information out there for the latter, but the first two seem rather elusive, I bet since these are more personally-devised things, unless you sign up for someone's training. We've also found some great information when meeting with real estate agents at their respective agencies. I've also been checking contracting and inspection information for rehab, which seems easier to find, although numbers will vary depending on location. Would love to see BP come out with something like this.