First Investment deal ever in 2007

[Roland Charles]

Investment Info:

Single-family residence buy & hold investment in Memphis.

Purchase price: $40,000
Cash invested: $1,000

This property required a great deal of rehab and I was able to get it to where you see here

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

The location and the price. It was my first deal

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

A wholesaler found the deal

How did you finance this deal?

Hard Money loan

How did you add value to the deal?

I rehabbed the property

What was the outcome?

I managed the property for several years.

Lessons learned? Challenges?

I learned many lessons! the first lesson is to buy in the right area. I was too early in the area but it was ascending. However, the property vandalized

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

Yes, but it was so long ago that they may not be in the industry