All Forum Posts by: Tommy Nguyen

Investment Info:

Single-family residence buy & hold investment in Cincinnati.

Purchase price: $155,000

Single-family residence buy and hold into house hacking investment in Cincinnati, OH

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

Rent free, while mortgage is paid off by tenants

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

Drove passed by this home, from another potential investment deal.

How did you finance this deal?

0 down conventional loan

How did you add value to the deal?

Got seller to pay the necessary repairs

What was the outcome?

Seller agreed to knock down an additional $10g off the asking price

Lessons learned? Challenges?

Never assume, always ask; even during hot RE market.

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

Yes, but unfortunately he no longer works at PNC. PNC offered $2g for closing cost.

Investment Info:

Single-family residence buy & hold investment in Richmond Hill.

Purchase price: $155,000

Single-family residence buy and hold investment turned into house hacking in Cincinnati, OH.

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

Be able to live rent free, while having the mortgage paid off with OPM.

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

Drove home from another deal, and passed by the house.

How did you finance this deal?

0 down with conventional mortgage loan with PNC, seller dropped the price because at the time, he had 2-mortgages to pay.

How did you add value to the deal?

Able to get the seller to pay for various repairs

What was the outcome?

Able to get the seller to agreed to knock down another $10g, in addition to the repairs and inspection fees.

Lessons learned? Challenges?

Do not assume, always ask; even during hot RE market.

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

Yes, I did work with a real estate lender, but unfortunately he is no longer with PNC. PNC offered $2g for closing cost.

Investment Info:

Single-family residence buy & hold investment in Richmond Hill.

Purchase price: $155,000

155,000

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

Be able to live rent free, while having the mortgage paid off with OPM.

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

Drove home from another deal, and passed by the house.

How did you finance this deal?

0 down with conventional mortgage loan with PNC, seller dropped the price because at the time, he had 2-mortgages to pay.

How did you add value to the deal?

Able to get the seller to pay for various repairs

What was the outcome?

Able to get the seller to agreed to knock down another $10g, in addition to the repairs and inspection fees.

Lessons learned? Challenges?

Do not assume, always ask; even during hot RE market.

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

Yes, I did work with a real estate lender, but unfortunately he is no longer with PNC. PNC offered $2g for closing cost.

Hello,

Sorry to be a burden, I just signed up for the BP Pro and I do not know what is the next step.  So can someone please help me?  Thanks in advance.

Hello, 

I am new to BP community, and was curious if anyone in the BP community knows the answer to my question.  

Can a licensed RE agent legally conduct creative financing without getting into trouble?

Sincerely, 

Tommy