First Investment Property

[Brandon Golden]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $136,000
Cash invested: $27,000

3/2 Single Family home within walking distance to ECU main campus.

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

I am a college strength coach and know the area. The location of the property is a big hit with students.

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

MLS. Used the appraisal and inspection for negotiations.

How did you finance this deal?

Conventional Loan. Used money from previous IRA's to fund the down payment.

How did you add value to the deal?

Replaced the roof.

What was the outcome?

Our offer was accepted and we have now owned the property for almost 2 months.

Lessons learned? Challenges?

Learned a lot about the purchasing process of an investment property.

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

Yes.

Debbie Allen who is my Agent. Clay Brown who is a local lender.

Both of them were patient and always available to me, which was huge for me being able to close my first deal!