1st investment property

[Frank Quesada]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $260,000
Cash invested: $30,000

One story ranch, outdated interior, 3 bed and 1.5 bath on first floor, full basement

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

Ive been wanting to invest this house was under priced by 20-40k for other similar properties in the area. I was looking for months and after almost getting into a bad house i found this one right before deploying with the military

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

Found the house using a real-estate agent, and she helped with negotiations.

How did you finance this deal?

Conventional mortgage

How did you add value to the deal?

When it came to buying i didn’t have much room to bargain or change the deal at all because it was underpriced

Lessons learned? Challenges?

After buying the house i had a tenant move in literally the day after closing. A family member who really needed a place, i had issued getting everything done i was able to do the floors in the living room and 2 of the 3 bed rooms as well as paint and put new floor molding in.

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

Yes absolutely would recommend my agent. She is a friend who i told her what i wanted, where i wanted it, and what is was going to be used for and she was extremely active with trying to find what I wanted. Was extremely easy to contact and would get right back to me.