First Buy and Hold Investment

[Hayden Duer]

Investment Info:

Townhouse buy & hold investment in Temecula.

Purchase price: $275,000
Cash invested: $107,000

This is my first buy and hold investment. I plan to make this a house hack where the renters after all expenses will be paying me $250 on top of my expenses.

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

I have always wanted to get into Real Estate investing and I felt like it was time. I was shown this property and went for it.

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

A family member is a Real Estate Agent and a realtor in his office brought it to him. We checked out the property, they were going to put carpet in the house and sell it for $300k-$310k and I offered $265k before carpet, they came back at $280k and we settled at $275k.

How did you finance this deal?

I put $100k down and got a conventional 30 year fixed loan.

Lessons learned? Challenges?

Never rush during a deal, always make sure you understand everything that goes into the deal. Push a little harder in negotiations and find a trusted team, do not use vendors or team members who do not align with your style of business. Also, finding the right team is VERY important, it takes time. I still haven't found my team moving forward, but I have started to find my criteria for who I want on my team and it has really helped.