Primary home /Rental Convertion

[Jeyo Punnakottil]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $198,000
Cash invested: $15,000

Primary home .Purchased Right at the Pandemic explosion. Lived in it for 1 yr and 9 months and converted it to rental

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

Increasing my Networth and building Generational weath

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

On market deal. Seller was asking 220k.Got it under contract for 215k and after inspection negotiated to 205k.Appraisal came in low at 198k so renegotiated at the appraisal price

How did you finance this deal?

Conventional financing

Lessons learned? Challenges?

Should have negotiated appraisal first and then negotiated repairs after that