All Forum Posts by: Jordyn Moreno
Jordyn Moreno has started 3 posts and replied 6 times.
Post: Columbus GA vs Augusta GA vs Macon GA to invest at low price
- Real Estate Agent
- Boise, ID
- Posts 7
- Votes 2
Originally posted by @Alaina Nolan:
Augusta or Columbus, but I don't know much about Macon. Also, to be fair, if you're looking at buy and hold rentals there are areas of Augusta I'd avoid to avoid headaches.
What areas would you suggest to avoid? Looking into Augusta myself currently.
Post: Owner Occupied Duplex
- Real Estate Agent
- Boise, ID
- Posts 7
- Votes 2
currently the unit is renting for $1,100 plus electricity. I cover water/ sewer/ trash. The upper unit I am in will easily rent for $1,200 when I find my next house hack.
Post: Single Family Home - first time home buyer
- Real Estate Agent
- Boise, ID
- Posts 7
- Votes 2
Investment Info:
Single-family residence buy & hold investment.
Purchase price: $170,000
Cash invested: $5,000
Sale price: $205,000
SFH purchased with minor cosmetic repairs. Sold off market.
What made you interested in investing in this type of deal?
First home purchase.
How did you find this deal and how did you negotiate it?
MLS purchase
How did you finance this deal?
FHA first time home buyer program with 3.5% down seller paid closing costs.
Post: Owner Occupied Duplex
- Real Estate Agent
- Boise, ID
- Posts 7
- Votes 2
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Boise.
Purchase price: $295,000
Cash invested: $17,000
Purchased my rental property directly from my landlord. It is a 2/1 up-down duplex with shared backyard and single car garages for both units.
What made you interested in investing in this type of deal?
It was an opportunity to get into the market with zero market competition since I was working with the owner off market.
How did you finance this deal?
This was a first time home buyer FHA loan with 3.5% down, the seller gave $5,000 toward closing costs.
How did you add value to the deal?
The seller was able to sell the duplex at full market value with no realtor fees or inspection contingencies. If something major would have come out of the inspection and she would not have budged I would have walked from the deal but it was a clean inspection.
What was the outcome?
Both seller and buyer are happy with the purchase. I am now in the process of refinancing to drop the PMI, obtain a conventional loan at the same rate as the FHA loan, and re start the process on a SFH house hack.
Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?
I was my own real estate agent and drew up all the documents for both the seller and buyer.
Post: Boise Investor Meetup
- Real Estate Agent
- Boise, ID
- Posts 7
- Votes 2
I am excited to attend my first real estate investor meet up, thank you for hosting this @Melanie McDaniel!
Post: Owner Occupied Duplex
- Real Estate Agent
- Boise, ID
- Posts 7
- Votes 2
Investment Info:
Small multi-family (2-4 units) buy & hold investment in Boise.
Purchase price: $295,000
Cash invested: $17,000
4 bed 2 bath shared backyard duplex with one garage space per unit.
What made you interested in investing in this type of deal?
I wanted to purchase my first property and get into real estate investing. I figured the best opportunity would be purchasing an owner occupied investment. I would be able to benefit from the low interest on owner occupied loans.
How did you find this deal and how did you negotiate it?
I was lucky enough to already be living in the property and purchased the unit from my landlord. We negotiated the contract off market and kept the home off MLS. Being a realtor I ran the comps and she used an outside realtor to do the same.
How did you finance this deal?
It was financed as an FHA loan