First investment property in the books - Omaha

[Michael Kelley]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $98,000
Cash invested: $9,700

3 bedroom, 1 bath with single detached garage SFR. Neglected inside and out...lots of renovation needed.

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

Seemed liked a good jumping in point...

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

MLS, negotiated with an agent...

How did you finance this deal?

Conventional loan with 3% down, 30 year fixed at 4.25%

How did you add value to the deal?

Bought under market value. Renovating kitchen and bathroom. Adding a bedroom, bathroom and additional living space in the unfinished basement.

What was the outcome?

Work in progress

Lessons learned? Challenges?

We're in the game and learning alot...