My first Investment Property

[Benjamin Hedden]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $44,000
Cash invested: $0

Bought this Town home off market for 44k, Recent comps in the area 80-100k, return is great and I bought it in good condition with a renter paying 850/ mo

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

44k in Crestwood, its in the path of growth and was returning 16% net of costs. Its a no brainer

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

I just called all the neighbors, I asked him what price her wanted and had to call him 100 times to finally get it sold but Took me about 2 months of following up to get the place.

How did you finance this deal?

Cash

How did you add value to the deal?

I didn't the value was there just from getting someone who wanted to get rid of the apartment

What was the outcome?

I got a great deal and Its paying for my car currently.

Lessons learned? Challenges?

Always ask them what price they want, never make an offer

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

No I am an agent