First Home! Partial future rental!

[Aaron Robert Anderson]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $649,900
Cash invested: $136,000

This is my first residence, the basement is a full unit that we are planning on renting out to assist with the mortgage which will allow me to buy the next property. While the property doesn't have cash flow, I needed a bigger home base (with an office) for the day job as someone that works in technology in the DMV.

Made some mistakes along the way, and had more help than I can thank, but I got locked in with a good rate which is the important part and now that my feet are wet and I know the formula, I'm ready for more!

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

Becoming versed in other aspects of business and not paying rent any longer

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

Scouring redfin, finding a local independent agent, mortgage broker, and help from a long-time investor.

How did you finance this deal?

While most of the money to get the deal done was my own, I ended up needing a little help at the end because I'm so new to the process and it was such a breakneck closing (15 Days) I didn't have all my funds liquidated in time and needed help from an investor that was able to give me liquid cash while my funds liquidated.

How did you add value to the deal?

Primarily organizing it.

What was the outcome?

Success

Lessons learned? Challenges?

Do things as quickly as possible, you may think we live in 2022 when you can just click a few buttons and it gets done instantly, but things still need to be tracked and people still need to be communicated with.

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

Thomas Miller -- RE Agent -- zillow.com/profile/gtmiller0
Jason Zamoiski -- Mortgage Broker -- Spoke with the Seller to convince them I was someone worth going with, beat out higher other offers due to this -- atlanticcoastmortgage.com/lo/jason-zamoiski/