FIRST DEAL!!! Thanks to Dave Green an Brandom Turner

[Eddie Coriano]

Investment Info:

Single-family residence other investment.

Purchase price: $150,000
Cash invested: $40,000
Sale price: $278,000

****AIRBNB****
I did all the Work my self, 5 bedrooms 3 bath.
The Appraisal came 6 month ago for 278,000 after that I add tiles to the kitchen and remodel another bathroom

I'm in the middle of 2 lake's , Lake PapaKeechie and Lake Wawasee

My first Booking was yesterday, having couple more this month and next month.

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

Before I buy this house I saw 50-60 houses in person. I saw the potential tha this house have and I bought it. I'm ready for the next one.

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

My Agent found it.
It was listed for 200k and after 3 month on the MLS I found it and make and offer for 165,000 but I know the property its not goin to pass inspection, before It was mine I have to put the kitchen counter top, I offer 150,000 DEAL!!!!!!

How did you finance this deal?

Conventional loans 20 year 3.125 interest

How did you add value to the deal?

1. Kitchen Countertop
2. New Flooring
3. New Appliance
4. New Paint
5. Bath remodel
6. Drive way gravel
7. New Tankles water heater
8. New sump pump
9. New well pump
10. Furniture

What was the outcome?

6 month ago the appraisal came for 278,000 but I think the value now its 325-350

Lessons learned? Challenges?

Lear a lot on this property, everything was challenge because I didn't have the tools and the experience but now I'm ready for the second property.

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

Agent Penny Seeger saw almost 60 property's
Lender Katherine "good"
Property Manager Scott Gingerich He is doing pretty good, I like him!