First Deal is a PML

[Susan Lincoln]

Investment Info:

Single-family residence private money loan investment in Hilo.

Cash invested: $150,000

Four lots TMK # 1-6-080-033, -058, -057, -070, for four single family residences.

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

I didn't have to rely on others to complete it. I wasn't confident enough to talk to sellers or agents, so wholesaling was a challenge. Being so new to real estate investing, Fix and Flips seemed impossible without a reliable contractor.

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

I went outside my comfort zone and met with other women interested in Real Estate investing. That has made the greatest difference. It was so nice to ask questions in a safe place, and have help vetting deals.

How did you add value to the deal?

The purchase was the first attempt for a few of us at investing in the Hawaii market. It gave us all a boost of confidence. The request was for 8 months, but I thought a year would be better.

What was the outcome?

First home will soon be on the market. The second is getting a roof. The third and fourth properties are in various stages of clearing.

Lessons learned? Challenges?

The market is slow to respond now, but no one is worried. The process has been smooth this far.