First Joint Venture!

[Lara White]

Investment Info:

Other buy & hold investment.

Purchase price: $340,000
Cash invested: $60,000

Joint Venture with another Bigger Pockets member. The house is near the state capital and OU Medical Center. There is a garage apartment in the back that is separate from the main house. We paid $340K, and the appraised amount came in at $420K! We do have to make some repairs, but otherwise it's pretty much ready to rent.

How did you finance this deal?

Local commercial lender.

How did you add value to the deal?

We will be doing some renovations.