First SF Investment

[Matthew Matulis]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $64,000
Cash invested: $12,000

This 4-bedroom home needed some of the bigger investments, to begin with (Roof and A/C - which we ended up getting some credits for) and internal touch-ups but was a great deal at the time and something I was willing to put in initially for a strong cash-flowing property.

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

I was working for an investment firm at the time and decided that this was the right deal to take the first step.

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

This was on the market and I found it on Realtor.com, and because I am a remote landlord, I used an Agent to negotiate the deal.

How did you finance this deal?

Conventional

How did you add value to the deal?

Roof, A/C, and Rent Ready Touch Ups

What was the outcome?

The deal has been cash-flowing well and it's value has grown over 100%

Lessons learned? Challenges?

While this first deal was a rollercoaster the biggest lesson was the importance of just taking the first step and learning by doing. I had prepped and studied for so long trying to be informed, and while I encourage that, you can be stuck in this phase and never start.

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

Michael Matulis in Columbia SC