Golden Pines Property

[Darrcelle McGinnis]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $20,000
Cash invested: $38,710

3 bedroom 1.5 bath

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

Cash Price and should have been an easy reno

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

Family friend who owns section 8 properties in the area

How did you finance this deal?

Savings, credit cards

How did you add value to the deal?

The property is located on almost an acre of land.

What was the outcome?

Will be renting house soon (prayerfully)

Lessons learned? Challenges?

Using a friend a the contractor. He moved in slow motion. A simple project that should have taken 2 months took him 9 months.

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

No