Our first REO investment

[Liz Potemra]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $350,000
Cash invested: $110,000

Currently own.

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

Great price, seemed like a solid house with mostly cosmetic work that needed to be done.

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

Real estate agent.

How did you finance this deal?

Conventional loan

How did you add value to the deal?

Most of the work we did ourselves, and have had a great stream of tenants.

What was the outcome?

We were able to buy this one close to the low. Now, we are cash flowing positive, and now prices are headed up.

Lessons learned? Challenges?

Always hang on and wait for the good quality tenants!