Riverdale, MD diamond in the rough

[Carlos Salazar]

Investment Info:

Single-family residence buy & hold investment in Riverdale.

Purchase price: $198,000
Cash invested: $12,000

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

Father has a history of investing in single families and always wanted to do my own deals.

How did you finance this deal?

First house, so conventional FHA loan (has since been ReFi to remove PMI)

How did you add value to the deal?

Created an open concept, wooden floors, and new siding for insulation and appearance.

What was the outcome?

Great rental property that is going to be between two purple metro line stops.

Lessons learned? Challenges?

Never wait. Act now or forever hold your peace. (as long as its a good deal)

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

I did work with an agent, but would not recommend him. I ended up finding the house myself.