First real estate investment

[Benjamin Wofford]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $79,900
Cash invested: $19,000

First investment property.

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

Listening to Norada Real Estate's podcast.

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

Found on Norada's website. I used their advice and their network to get the deal done.

How did you finance this deal?

Cash and a 30-year conventional loan.

Lessons learned? Challenges?

Make sure you hold the seller to rigid safety standards. The house needed a few safety-related repairs before I agreed to buy the place. Thank God for inspectors.