Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Real Estate Deal Analysis & Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago,

User Stats

1
Posts
0
Votes
Ronald J Parks
  • Pittsburgh
0
Votes |
1
Posts

First Investment property purchase!!

Ronald J Parks
  • Pittsburgh
Posted

Investment Info:

Single-family residence buy & hold investment in Coraopolis.

Purchase price: $130,000
Cash invested: $5,000

Rental to college students

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

It was my first deal to get started. Purchase price was not scary and it produces positive cash flow for my first investment.
Felt good to get it done.

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

Communicated with RE agent who sent me listing in the area based on my criteria.

How did you finance this deal?

FHA loan because of my low credit at the time. Used cash proceeds from the sale of my primary residence for down payment.

Lessons learned? Challenges?

i initially overreached on a purchase price coming in too low. I was able to readjust my expectation and still make it a positive cash flow deal.

Loading replies...