More single family dwellings in spokane wa area.

[Cynthia Mccoy]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $377,500
Cash invested: $40,000

This would be my third single family home. Presently living in this unit will be one of my investment properties to come. This is a 5 bed 2 bath single family home.

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

Another angle family home with tons of potential. For cash flow. 💸

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

I found this deal again this was another deal noone wanted it was on market for 12 days. Finally went to go see the property loved it. We were able to negotiate more dye to the fact the people wanted to sale house had not been getting very many hits. So I took that time to start negotiating price after the appraisal was done that gave me more room to negotiate price. because now with the appraisal report it points out key aspects of the house that you might had not known prior.

How did you finance this deal?

I use a hard money Leander for this home at a rate of 5.3%. Conventional loan.

How did you add value to the deal?

I came with a higher down payment for this property to get it closer to a ok mortgae rate.

What was the outcome?

Great we live here for now. Looking for more rentals.

Lessons learned? Challenges?

There are many different types of funding depending on what it is your looking for. I'm still learning but this is a start.

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

I worked with the same agent that helped me on my second home. Name ross Hamilton in spokane wa agent for redfin. You also get back money when you purchase through one of there agents it's great.