Our very first single family home acquisition in Charlotte NC

[Kawthar Suleiman]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $52,000

My very first home purchase as a primary alongside my husband. We purchased it for 52,000 in 2013 and will be worth between 420,000 - 520000 once completely renovated. Once renovations are complete we will likely set it up as an airbnb. It is what showed us the power of appreciation in real estate!

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

We were searching for a primary home that was affordable and in an area we loved. We got in at a great prices!

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

It was a foreclosure and needed some work. It was listed at $89,000 but were able to negotiate the bank down. It was toward the end of the year and I think they just wanted to get it off their books!

How did you finance this deal?

Private money and paid it off in 3 years!