First Buy and Hold Property

[Vincent Miller]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $140,400
Cash invested: $40,500

Moody, AL Townhouse: 2 BR, 2.5 BA

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

Cash-flow in a stable economic market

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

Roofstock

How did you finance this deal?

Conventional financing with 25% down at 5.0% interest with 30 year amortization

What was the outcome?

Smooth purchasing process and renter in the unit within 6 weeks of purchase date.

Lessons learned? Challenges?

Love your appraiser. The appraised value was about $9,000 less than my original offer. The seller agreed to take the appraised price.

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

Roofstock is a good turnkey provider and I utilized Cross Country Mortgage.