Property under contract

[Brian Plajer]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $355,000
Cash invested: $88,750

This is a new build townhome with 3 BR and 3.5 BA and a one car garage. Had to put $10K down and the remaining for down payment and closing is due at closing which is expected to be in September. My partners and I hope to hold rent the property and see some appreciation as Charlotte continues to grow.

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

We were attracted that its a new build in an area that we think will have future growth potential

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

Found online

How did you finance this deal?

$10K deposit and will do 25% down

How did you add value to the deal?

This was a deal that my partners and I agreed is an acceptable risk. Will assess long term rental demand and consider renting rooms if demand is there.

What was the outcome?

home won't be completed until Sept.

Lessons learned? Challenges?

tbd

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

Eric Madara, yancey realty
Bruce Myers, Fairway Mortgage

I highly recommend the gentleman above. I have closed several rentals properties remotely with them and they make the process and painless as possible with proper preparation.