First Investment Property

[Peter Wellman]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $240,000
Cash invested: $24,000

A single-family ranch style home. 3bed, 1 1/2 bath. I added a second bathroom since the other bathroom only had a stand up shower. I repainted the inside owl gray, and the exterior white with black highlight. I also made a accent wall in the living room that's black with stained wood slats. I painted the fireplace in the dining room black to match the accents.

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

My goal is to create another stream of income through rental properties

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

I found it through a real estate agent. I was also able to put in a offer that was 5k less than the asking price.

How did you finance this deal?

VA Loan

Lessons learned? Challenges?

The challenges was fixing the place up and dealing with contractors. Most of the fixes were cosmetic but was still alot of work to do.

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

Claudia Moore has been absolutely amazing as my real estate agent. she goes above and beyond her job as a real estate agent