First Solo investment(with my wife)

[David Cook]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $260,000
Cash invested: $60,000

Great low maintenance single family home I'm running as a short term rental after some very light renovations

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

Cash flow with the hope/plan of long term appreciation with low interest fixed rate debt!

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

MLS. Offered $10k over list. Ended up in a 3 way tie, but the only conventional loan so seller went with my offer

How did you finance this deal?

Conventional 30 year loan

How did you add value to the deal?

Light renovation(painted kitchen cabinets, scraped and painted popcorn ceilings)

What was the outcome?

Great cashflowing STE that I plan to hold for at least 27.5 years!

Lessons learned? Challenges?

Just do it! Analysis paralysis until this deal.

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

I was my own agent!(nice to get a commission while acquiring cashflowing assets!