First investment property

[Schadrac Mertis]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $98,000
Cash invested: $24,000

My first investment purchase was a long-distance property. Still in the early stages of the process still learning.

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

Cash flow

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

MLS and with a realtor

How did you finance this deal?

Conventional loan with 20 percent down.

How did you add value to the deal?

Turn-key

What was the outcome?

Being managed by property management.

Lessons learned? Challenges?

Interview multiple Property management companies and don't be afraid to negotiate the asking prices.

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

Not at the moment