First Purchase of Investment Property

[Andrew E.]

Investment Info:

Single-family residence buy & hold investment in Trussville.

Purchase price: $192,000
Cash invested: $56,000

3 bedroom; 2 bath single family home on a .48 acre lot

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

Good community and schools for rental investment

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

Found it on Realtor.com and made an offer through my agent out of Birmingham, AL

How did you finance this deal?

FHA 20% down out of savings

Lessons learned? Challenges?

Learned it did not have sewage and is on a septic tank.

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

I worked with an agent, Stephanie Brumbeloe at eXp out of Birmingham