1st Investment Auction Home

[Brittne Chesser]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $17,500
Cash invested: $27,000
Sale price: $17,500

Purchased for $17,500
Invested $10k for rehab
Pulled $36k equity line
Renting out for $600/m

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

Very cheap price in a great rental community

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

Found on an auction site

How did you finance this deal?

Used my 401k

How did you add value to the deal?

New paint, bathroom rehab, backyard cleanup

What was the outcome?

Everything worked out perfectly

Lessons learned? Challenges?

More research in the specific market we were looking in

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

I was an agent at the time