First Investment and it was Long Distance

[Albert Thuilot]

Investment Info:

Single-family residence buy & hold investment in Gulfport.

Purchase price: $61,000
Cash invested: $4,200
Sale price: $112,900

Cashout refied the property in November and used that cash to fund 2 new properties.

**Update Oct 2022, property cashflowed, but had continual issues and decided to sell it. Final sold price with seller credit $112,900 - $4,200. Collected rent of $1,100 for a year.

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

A friend was invested here, and introduced me to his realtor, who introduced me to several contractors and shared her knowledge of the area.

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

Friend brought it to me. After being up about $100k in the market, lost $30k of that in one day, and decided that wasn't for me.

How did you finance this deal?

Cash

How did you add value to the deal?

Fixed it up enough to get it working, and liveable, was mentored through the process. I've changed how I do things now, where I do complete guts.