First Investment Property

[Ryan Norman]

Investment Info:

Single-family residence buy & hold investment in Charlotte.

Purchase price: $75,000

Cash invested: $7,000

Bought my first investment property using the Fannie Mae Homepath program. Single-family 3/2 ranch home.

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

The Homepath program's low upfront cost

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

Fannie Mae Homepath

How did you finance this deal?

Traditional 30 year fixed @ 4.375. Loan from 401k for closing costs and repairs. 

How did you add value to the deal?

Paint, carpet, landscaping

What was the outcome?

Listed with a local property manager. Same tenant for 4 years. Net cashflow $250/month

Lessons learned? Challenges?

Get started faster...use relationships to fill the void of uncertainty and fear.

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

milena.kwrealty.com
T.R. Lawing, LLC