Make a plan, review the plan, DO the plan.

[Jake Donohoe]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $172,000

Contributors:
Tabitha Turner

First property in Tennessee! We will be living in this home while we do some minor rehab and develop our investment strategy going forward. Excited to get to work and learn even harder! It has lots of potential and of course we have that gorgeous mountain view as well. Stay tuned! In a matter of 3 months we tossed the idea around of buying a property to help kick off our investment career to devising plans and strategies and aggressively saving money to pull the trigger. You too can do it

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

We needed a place to live once our apartment lease was up, we just got to work and found one way sooner than needed

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

Our agent sent it to me and was a clear winner compared to the others we had viewed at the time.

How did you finance this deal?

5% down conventional mortgage

How did you add value to the deal?

We will be doing some minor rehab, mostly cosmetic. Some functional obsolescence to correct as well.

What was the outcome?

Stay tuned!

Lessons learned? Challenges?

Having the right people on your team is CRITICAL. Always read the fine print, and if the contract is worded horribly don't be afraid to get a lawyer to review.

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

My loan officer and home inspector where both always on point and over delivering. Will for sure use there services in the future.