Buying My Portfolio with Single family homes

[Teresa Segrest]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $14,000
Cash invested: $10,500

Rental House #3

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

I had purchased 2 houses previously and am currently renting both. I wanted to increase my assets and income so when I retire in 3 and years, I will be more financially secure.

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

Real Estate app that I look SURF almost daily and I spotted a house that I was interested in. I called and looked @ it . I made an offer later that night via Email to the Realtor. This was a foreclosure and the bank countered my offer which I accepted

How did you finance this deal?

I borrowed from my 403-B and added another 3K from my personal funds.

What was the outcome?

I am almost finished with the renovation and will soon be shopping for high quality tenants

Lessons learned? Challenges?

I hired more help with this 3rd house (I have done less of the physical labor myself). I have still done a lot of work. I want to gain the ability to OUTSOURCE more and more with every deal.

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

Realtor