First Investment Property

[Joseph Sauer]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $198,900
Cash invested: $36,000

Primary home till we flipped it to an STR after purchasing a new primary.

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

Been studying the STR space for a couple years. As soon as we had the money saved and the opportunity presented itself, we jumped on the chance to start this journey!

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

This was a primary home purchase back in 2018. Found the home on Zillow and contacted our realtor. Nothing special

How did you finance this deal?

First time home buyer FHA 3.5% down

How did you add value to the deal?

Home was recently updated, so we didn’t do anything at first. Over time we made repairs and added on to the house.

What was the outcome?

House is currently worth about $80,000 more than when we purchased and it's been a profitable STR so far!

Lessons learned? Challenges?

Learned a lot throughout the process of setting up the house as an STR! A lot more work than I thought it'd be. Learned how to dig deep and just keep pushing forward till the job is done

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

Kim LaPilusa is a phenomenal Real Estate Agent! She’s my go to the Southern Indiana Area!