My first ever house in the USA!

[Diana Baccus]

Investment Info:

Single-family residence buy & hold investment in Pelham.

Purchase price: $103,000
Cash invested: $4,500

My first house! 2 bed 2 bath town home with small fenced in yard in a quiet beautiful neighborhood with great schools (I just got lucky, I don't have kids yet)

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

It was not an investment. That was a house I bought to live in and I picked it for myself.

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

The agent I worked with was super nice and patient with me. She showed me 5-6 houses and I fell in love with this one.

How did you finance this deal?

FHA - the agent recommended the mortgage person and she was nice and patient too.

How did you add value to the deal?

My dad flew across the world to put new flooring in the house. I thing it's valued at $125,000 now but definitely not selling

What was the outcome?

I lived there for 18 months and now it is a rental with great income.

Lessons learned? Challenges?

FHA is not a good deal

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

Jana Clark LAH Realty - super sweet and great professional