My first buy and hold

[Vladimir Nemchinov]

Investment Info:

Single-family residence buy & hold investment in Euclid.

Purchase price: $9,000
Cash invested: $6,000

That's gross cashflow

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

Very low price, good condition and many other buyers walking around the house the next day after i saw it on the market haha

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

MLS. I don't remember how much was the starting price i told my realtor offer $9100 and she some how offered $9001 and it got accepted lol

How did you finance this deal?

Used my saved money aka emergency fund

How did you add value to the deal?

I did just cosmetic work, well, I replaced gas lines too... everything else just finishing work, paint, floors.
I also rebuilt the porch and took down like a gazebo behind the house.

What was the outcome?

No mortgage, same tenant since the start, paid off my investment in two years or more

Lessons learned? Challenges?

I can start and finish a project. I need to do it again.

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

now. just an agent that would give me the code to the property over the phone, so i can go and look on my own.