First Property Since 90day Challenge

[Tue Huynh-Nhut Vo]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $37,000
Cash invested: $8,000

Cash Purchase

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

Double lot property, one with house 2 bd 1 bath, 800sqft renting $750.

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

Facebook. Wanted $40k, offered $37k cash

How did you finance this deal?

Cash

How did you add value to the deal?

New paint in and out, vinyl floor, doors, faucets, toilet, built tile shower, water heater, vanities, and revamped electrical system.

What was the outcome?

Cash cow

Lessons learned? Challenges?

Increase rent to $850 next year.

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

No just my coworkers/partners.