First investment property-Lyman

[Lacy Konieczka]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $400,000
Cash invested: $40,000

3 bed/1 bath single family home with detached 1 car garage. On a quiet dead end street with fenced in backyard.

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

Its a great location and a very solid house, we cash flow $500/month on it.

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

This was a home that we rented for a while and were able to purchase from the owner, we lived in it for a total of 4 years before we bought our second property that we now live in.

How did you finance this deal?

Traditional 30 year fixed loan

How did you add value to the deal?

It has a new roof/new furnace both installed right before we bought it in 2020.

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

I am an agent, but no we did not. Since we bought it directly from the previous owner/landlord directly.