Closing of first investment

[Crystal Taitt-Phillip]

Investment Info:

Single-family residence buy & hold investment in Savannah.

Purchase price: $100,000
Cash invested: $35,000
Sale price: $119,000

The property is 2802 SF, 4 beds 2 baths.

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

The property was off the market and was owned by a partnership that was separating. I believed this to be a very good opportunity due to the circumstances that presented itself.

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

I found the deal through a real estate broker, she kept counter offering their asking price.

How did you finance this deal?

I did the traditional loan with 25% down

What was the outcome?

The projected closing day is in the first week of January 2019.

Lessons learned? Challenges?

The property is in a flood zone and I learned about a flood elevation certificate.