My second real estate investment

[Corey Block]

Investment Info:

Single-family residence buy & hold investment in Buna.

Purchase price: $25,000

Purchased the home with cash from an investment refi and some personal money, then refinanced at 75% LTV and left around $1,000 in the deal.

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

I stumbled upon this deal on a local online classified ad and the numbers worked.

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

I found the deal on a local online classified ad and I happened to know the seller who was also a real estate agent and investor.

How did you finance this deal?

Cash then a refi to pull my money back out of the deal.

How did you add value to the deal?

I didn’t, the property was turnkey.

What was the outcome?

Still holding the property today. I am no longer renting but in an owner finance.

Lessons learned? Challenges?

Was more difficult to manage the property since it is about an hour away from where I live.

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

I worked with the agent/investor that I purchased the property from.