first time buyer. invested first

[James English]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $680,000
Cash invested: $190,000

Purchased my investment property before my primary. single family mountain property. put it on the STR platforms

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

familiar with the area and saw the opportunity

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

local realtor found it before it hit the market. sellers accepted with no concessions

How did you finance this deal?

23% down through my bank

How did you add value to the deal?

did a 1 month leaseback to the sellers so they could find their next home

Lessons learned? Challenges?

Lenders.. I was not taken seriously due to my age (29) and my credit had a few previous dings on it from when I went rate shopping months before. I had immediate denials in some cases even though my score was in the 730 range.

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

Yes BHGRE of blue ridge GA for my agent J Daniels. She's the best!