First investment property

[Richard Getchius]

Investment Info:

Single-family residence other investment.

Purchase price: $125,000
Cash invested: $15,000

Purchased this property to start our adventure into the BRRRR Method of Real Estate. Looking forward to starting a very successful business in Real Estate with my wife and business partner Cory Huffer.

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

We were just in the market to buy a home to live in. When I was introduced to a gentleman named Cory Huffer. He opened my eyes to much more of what the Real Estate market had to offer.

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

We found this home on the Keller Williams App. This home was originally going to be purchased using an FHA 203 K Loan which allows you to add in the cost of repairs into the loan. It ended up not going that way it was going to cost us more money at closing as well as Fees for other things. My friend then ended up buying this house and getting the repairs done as it was going to cost less in the long run for him to make the purchase than us. We then ended up buying the home upon completion.

How did you finance this deal?

FHA Loan

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

Keller Williams- Realtor
Churchill Mortgage
Lincoln Title