First deal closed! Super happy to start our Real estate journey!

[Sheryl Chang Mendez]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $173,500
Cash invested: $7,000

a move-in-ready three-bedroom, one-bath home situated in Central Lakeland with NO HOA.

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

To generate rental income

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

I found through Redfin and I negotiated the deal myself. I first put in a lower offer than the asking price and lowered from $179,000 to $175,000. After the inspection report came back, I made a lower offer due to new roof, plumbing and A/C that will need to be replaced. Purchased house for $173,500.

How did you finance this deal?

Conventional loan and our own cash for the down payment and fixing

How did you add value to the deal?

We are giving a cosmetic facelift to the house. Painting, new light fixtured, tree trimming, new washer/dryer, etc.

What was the outcome?

To be continued.