Our first investment, 12/2018

[JayCinta Henry]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $130,000
Cash invested: $30,000

Single family unit. Needed a little bit of work - removed old stinky carpets, paint, new water heater & electric central AC unit by home warranty.

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

It was valued lower than market value. I didn't know BP then, my wife & I were just looking for an investment property.

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

Found it on mls, made an offer

How did you finance this deal?

Conventional loan. Knowing what I know now from BP I pro'ly would do that differently

How did you add value to the deal?

Removed old stinky carpets. Painted, installed new floors, water heater & electric central AC unit by home warranty, etc.

What was the outcome?

Lots of sweat, great deal!

Lessons learned? Challenges?

First and last rehab I do. Hire out the work.

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

Real estate agent is an old friend