1st Investment Property

[Erick Duran]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $15,500
Cash invested: $41,000

Gross rents are $925 with a property manager in place. First investment property. I was lucky enough to pull all of my cash back out of the deal. It was fully funded by me and credit cards. Wayne Savings for the win on the Refi.

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

Bigger Pockets Podcasts. Navy friend already investing. Im 42 now and should have started way sooner.

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

I found it through talking with a local realtor. He gave me this pocket listing after having him show me a few listed units. Seller wanted more but knew is wasn't worth much more.

How did you finance this deal?

My own cash and 0% percent offer credit card.

How did you add value to the deal?

Fixed up the interior, mechanicals and roof.

What was the outcome?

Rented out and working out.