First Rental Property Investment

[Nick Lepore]

Investment Info:

Single-family residence buy & hold investment in Charlotte.

Purchase price: $90,000
Cash invested: $22,000

3 bd 2 ba condo in the university area

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

Cash flow positive. Solid tenant occupied with the potential to rent to students for higher rent since I can charge by the room.

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

MLS and friend that is a real estate agent helped with negotiation and putting the deal through

How did you finance this deal?

Traditional financing

Lessons learned? Challenges?

Unfortunately had to put 25% down and wanting to learn more creative financing strategies for future investments.

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

Sean Rush (real estate agent) in Charlotte is great.