in contract on my first investment property! can't believe it.

[Jenny M Valcore]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $163,000

Currently in contract.. looking for advice on financial structuring... all houses i've put offers on in this area are going for cash, no contingencies, OVER asking.. I found an awesome agent and somehow landed this deal for slightly under list price, with remedies, no appraisal gap coverage and inspection contingency.. Walking through with my inspector can contractor on thursday. I'm very new at this and thank you all for any support !

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

Just moved to the area, and want to invest in real estate for future financial growth and stability. distrust of current paper markets. columbus is on a growth trend. like a dark horse. tech-driven city in the rust belt.

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

Found a fabulous agent.. she did the negotiations..

How did you finance this deal?

currently in contract.. looking to finance it as a rental property. I am currently uncertain if I should put 15% or 20% down.. there are pros and cons to both, and the market is wild so I am not a secure with what it will be doing in the next 2 years.

How did you add value to the deal?

We will be rehabbing the bathroom, kitchen, resurfacing floors, painting and adding a privacy fence. should add 20K or more to the property value.

What was the outcome?

n/a

Lessons learned? Challenges?

still learning.. and lots to go. lessons.. keep at it! and 'extrovert yourself' like G.C. says.. I've been talking to lots of people and driving around a lot over the last month.. studying constantly for the last 3 months. i'm still so new at this and learning all the time.

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

Yes! Amy Branson RE/MAX connection