Buying my first property

[Filiberto Cortes]

Investment Info:

Single-family residence buy & hold investment in Chehalis.

Purchase price: $45,000
Cash invested: $4,900

I bought a fixer upper

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

The price

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

Driving for dollars and I negotiate with the owner

How did you finance this deal?

OPM

How did you add value to the deal?

The house was a hoarder when I finished cleaning it went from 45 k to100k and when I finished rehabbing it will value 180 k that will be a good deal for me

What was the outcome?

Still working in the property

Lessons learned? Challenges?

It takes time to close a deal it takes time for the rehab and the holding cost it can kill you deal if you want to flipp the property and if you are not prepared for unseen expenses i am talking capex

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

Yes