My first deal was a set of Townhouses in Christiansburg, VA

[William R Bebout Jr]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $180,000
Cash invested: $44,250

I was able to purchase Units A and B from an owner who was getting out and moving away. This is one of two Townhouses in Christiansburg, VA

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

I've been reading BiggerPockets content since last August and was looking for a good way to invest in my financial future.

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

I found this deal thanks to my realtor, Tom Sproul, who helped me through the process of going back and forth with the seller's agent. I offered two offers initially, a conventional mortgage offer and a seller financing offer. They weren't interested in seller financing, so we went back and forth until we settled on the final terms.

How did you finance this deal?

Conventional Mortgage.

Lessons learned? Challenges?

This was my first deal, so I feel like I'm still learning my way through.

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

Realtor - Tom Sproul, Coldwell Banker Townside
Lender - Chris Eads, Alcova Mortgage