My first property purchased

[Domenic Puglia]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $195,000
Cash invested: $17,800

A corner end-of-row row home in Glenolden.

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

I was able to get a good deal because it was off market and I was able to work both sides of the deal being that Im an agent.

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

I knew the sellers, performed an CMA, offered fairmarket value then deducted the 6% Realtor costs from the purchase price.

How did you finance this deal?

With my own money along with my girlfriends.

How did you add value to the deal?

Was able to do both sides of this deal because im a licensed Realtor. Was able to deduct 6% off the purchase price.

What was the outcome?

Was able to purchase the house in under 40 days.

Lessons learned? Challenges?

First time handling both sides of a Real Estate transaction.