Our first Investment property

[Kedric Naylor]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $252,000
Cash invested: $63,600

First buy and hold. Townhome in Gainesville Ga. Looking to make $450 a month in cash flow.

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

It's close to home. We wanted to self manage.

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

Local real estate agent. Doing it all over again, I would use a investor focused agent.

How did you finance this deal?

conventional 25% down

How did you add value to the deal?

Paint, flooring, updated bathrooms

Lessons learned? Challenges?

Always start with investor investor-friendly agent. Do not be afraid to lowball. Renovations can cost more than you expect, add 10% to your overall number.

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

Kendall Knight with First Horizon bank for lending. This guy is great and he thinks outside of the box to get the deal done.