First Investment Property

[William Nguyen]

Investment Info:

Single-family residence buy & hold investment in Houston.

Purchase price: $157,500
Cash invested: $36,655

This was my first investment property purchase. This was a turn-key property that needed light rehab and a tenant was found in 1 and half weeks.

Hopefully with proper screening and background checks my risk is mitigated for the future on repairs.

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

I wanted skin in the world of real estate other than my current home. I made sure to run the numbers so that it made sense.

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

I found this deal via the MLS and negotiate through my agent.

How did you finance this deal?

Conventional

How did you add value to the deal?

I did minor rehab such as paint, adding fixture, and overall cosmetic touch up of the property.

What was the outcome?

To be determine

Lessons learned? Challenges?

Lesson learned; take my time to do things right the first time, double/triple check everything, and keep my spirit high.

Challenges: learning to repairs things with minimal knowledge and help.