881 Valiant Drive, Statesville, NC

[Alfred Samuels]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $190,000
Cash invested: $28,500

Three Bedroom two bath 2 story Townhouse.

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

We got a great price on this property. We knew we could get it rented right away in this hot rental market.

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

We found this deal on MLS and our agent helped us get a price reduction of $20K. Open door was the seller.

How did you finance this deal?

Conventional Financing.

How did you add value to the deal?

We only had to do less than $2,500.00 for cosmetic fixes. We were able to have it ready to rent in 3 weeks.

What was the outcome?

We got it rented right away. Only key take away use a GOOD home inspector. He missed a key item which was half of the money used for repairs.

Lessons learned? Challenges?

We in these beginning stages always get a home inspection. But, we used a cheap one and he cost us. He missed a dripping hot water heater which we found upon the first visit after closing.

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

Yes, we switched to her and she was great. Brenda Priddy was our real estate agent. Also, we had a great lender Dana Walter at Gateway Mortgage. We closed ten days after our due diligence period was up. Very smooth transaction.