First investment property

[Michael Bertrand]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $110,000
Cash invested: $28,902

First investment property, bought through turnkey operator in Little Rock, AR.

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

Mostly passive, but just enough work to keep things interesting. I enjoy checking with my property manager to make sure my residents are happy. Clean, safe, affordable, and functional is always the standard.

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

Through a turnkey operator. It’s they essentially find the deals for you. This was actually a re-sell through them. Even in this crazy market it still appraised at $10k higher than the purchase price.

How did you finance this deal?

Through SecurityNational and Aaron Chapman. They are fast, friendly, extremely knowledgeable and accessible. They align their interests with yours. It’s been a terrific experience with them.

How did you add value to the deal?

There’s a few things from the inspections I’d like to fix for the residents, but other than that the house is great.

What was the outcome?

So far so good…only been a few months.

Lessons learned? Challenges?

It’s great just to go through the process and ask questions. I think preparation was the key. Read 5 or 6 books (some from Bigger Pockets) and spent hours and hours looking at deals and listening to podcasts before I identified my personal investment philosophy and my CCC (crystal clear criteria, thanks Mr. Turner) and that’s made a big difference.

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

Aaron Chapman’s outfit, SecurityNational and Memphis Little Rock Turnkey. It’s been a nice experience with them.