New Construction Single Family First Investment

[Michael Hinkle]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $321,000
Cash invested: $2,800

Appraisal on day of closing $351K. 30k equity on a new construction property. This was the last house built in the neighborhood.

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

I was looking for my first deal and decided on new construction. I would rather have small cash flow with less risk. New construction should not need any major maintenance. Will sell this property after 5 years but before 10.

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

Gave my realtor a list of wants and told him I was in no hurry. 4 months later he called with the deal.

How did you add value to the deal?

N/A

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

My realtor is Tim Lower and he has been amazing.