1st Investment property

[Alf Holst]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $115,000
Cash invested: $37,000

3/2 SFH in 30094

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

Researching gain wealth by making investments. Watched a few YouTube videos about investing money. Stumbled across a BP video. Made sense. Easier to understand than stocks. A great way to gain passive income.

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

Found it on Zillow. Used a agent and my neighbor, who is a loan officer. Paid asking price. It was move in ready. Had to buy a fridge.

How did you finance this deal?

Conventional loan through Element Funding.

How did you add value to the deal?

I did not add value to the deal.

What was the outcome?

Had a tenant place in July.

Lessons learned? Challenges?

You don’t have to believe and fix everything the septic people tell you about. Paid over $3k in the septic tank “repairs”...when their probably was none. Just looked like a bunch of poop and tampons.

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

Worked with an agent and a lender.