First Single Family Investment - Newbie Investor

[Lucas Hunt]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $269,000
Cash invested: $60,000

Contributors:
Wale Lawal

4 bed, 2.5 bath in north Houston

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

Safe bet for a rookie investor to get on base and cashflow a couple hundred bucks a month

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

My realtor Wale Lawal found the listing and negotiated for me

How did you finance this deal?

Conventional 30-year mortgage, 25% down

How did you add value to the deal?

None, it was a new construction

What was the outcome?

Closed the deal, found a tenant, and started cash flowing immediately

Lessons learned? Challenges?

Due diligence in the tenant screening process is just as important as finding the right home

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

Yes Wale Lawal is my agent that I would recommend