First home was not a home run but am humbled to start.

[Jason Brown]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $210,000
Cash invested: $54,065

Lovely 4 Bedroom 2 Bath home in Highland Farms. Features laminate wood floor covering and carpet. Eat in kitchen. Spacious main bedroom with main bath. Covered patio at rear yard.

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

Looking for a property with expectation of appreciation for the long term over cashflow.

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

Asked agent to send me deals with a set criteria on what was needed.

How did you finance this deal?

Conventional loan with 20% down and locked in a rate of 4.5% interest.

How did you add value to the deal?

Small repairs were needed and made on this property upon purchasing it,

What was the outcome?

Not as much cashflow that was expected but offer was accepted and appreciation is expected, and closing was very easy. I have developed many connections by actually going through with this property. I was introduced to a broker who is providing me with more resources.

Lessons learned? Challenges?

Being my first property out of state, I met a lot of people for the first time. I should have shopped around more with lenders to get a better deal on interest rates. Should have fact checked comparable rents better from what my agent assumed for the property before finishing the purchase.

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

I worked with Victor Steffen, Real Estate agent who was very professional and responsive!