1st Investment Property

[Darryn Jones]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $32,000
Cash invested: $21,000

2b 2b single family home in the same neighborhood I grew up in.

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

Low initial investment.

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

Wholesale mailer.
No negotiation. Came in at their price. It fit my model.

How did you finance this deal?

Cash

How did you add value to the deal?

Reno kitchen, bath, flooring, HVAC, Electrical, Roof, windows. Did my own labor.

What was the outcome?

Great. Had a tenant signed before finishing reno.

Lessons learned? Challenges?

Leverage cash better next time. Use lenders instead of own cash.

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

Nope.