Our first residential investment property in Tennessee

[Tai DeSa]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $122,000
Cash invested: $21,000

We bought this one as a long-term rental in a desirable location. After going under contract yet prior to the closing, we marketed it for rent. We found the perfect tenant the day before we bought the house. We spent $1,500 on renovating the house.

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

We found it on the MLS the day it was listed for sale. We saw it that day. We check the MLS daily for deals. We moved quickly. There were two other offers. What made the seller choose our offer is that we waived inspections and called for a closing in 17 days.

How did you finance this deal?

Keller Mortgage, which offers no points or origination fees. It is for Keller Williams agents, their clients, and the buyers of Keller Williams listings.