First time purchase. Growing and Learning.

[Derrick Cameron Jenkins]

Investment Info:

Condo buy & hold investment.

Purchase price: $400,000
Cash invested: $10,000

3 bedroom condo. Bought to live in while I made the property better. Currently renting out at $600 dollars monthly cash flow. Over $130,000 in equity.

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

Getting started. First purchase

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

Real Estate Agent. Spoke with the owner and expressed interest as a first purchase and investment in me and my partner's future together.

How did you finance this deal?

VA home loan.

How did you add value to the deal?

Basic lipstick renovations. It didn't require much. Bought at the beginning of the pandemic and waited for the market to add value with time so I could add a tenant that made sense.

What was the outcome?

Currently generating cash flow and a fully hands off property with a manager taking care of the day to days.