First investment, Newbie

[Allen Nelson]

Investment Info:

Single-family residence note investment investment.

Purchase price: $150,000
Cash invested: $25,000

First house post divorce turned rental.

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

David Greene.

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

Found on a whim. I was looking for a tax shelter. It was a hidden gem. Nothing required for move in. Huge back yard. Put up for rental last year when things were blowing up. Only problem, took out cash for rental purchase $30,000. Hurricane caused some damage, things didn't work out with rental. Now, out $30,000 for now. Working on something, fingers crossed.

How did you finance this deal?

Bank loan

How did you add value to the deal?

Huge. The price of learned lessons. Sweat equity. And not to mention building courage for future endeavors.

What was the outcome?

Still working, but feeling positive.

Lessons learned? Challenges?

Too many to list.

Youtube has save our lives.

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

No