My first deal

[Danyale Thomas]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $260,000
Cash invested: $50,000

Added 1/2 bath, updated full back, new plumbing, removed oil tank, update electrical, all new everything in the kitchen, built patio, refinished wood floors.

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

Was primary residence for 10 years before turning into rental.

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

Real estate agent

How did you finance this deal?

FHA loan

How did you add value to the deal?

Wrote a personal letter.

What was the outcome?

Seller took offer and declined the escalating offers that were competing with mine.

Lessons learned? Challenges?

Would not purchase a house that is 100+ years old

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

Yes, my agent held my second that I paid off 3 years in. She has since retired.