My 1st Investment Property

[Josh Goldstein]

Investment Info:

Single-family residence buy & hold investment in Raytown.

Purchase price: $70,000
Cash invested: $70,000

1st Investment property! Wound up going turnkey. Its rented for $850/month.

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

I wanted to get the train moving with a smaller stable deal so I can start a working relationship with people to grow.

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

I found this deal through a property management company/turnkey provider.

How did you finance this deal?

Cash

How did you add value to the deal?

The purchase price is already below market value.

What was the outcome?

I should cashflow about $450/month before I pull any money out.

Lessons learned? Challenges?

Next deals I would like to more value add so that I can start working with contractors to grow my portfolio quicker.

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

I am working with a company called REIS in KCMO.