First Deal!!! This is a solid Buy and Hold investment.

[Jeffrey Allen]

Investment Info:

Townhouse buy & hold investment.

Purchase price: $126,000
Cash invested: $36,000

My first Investment Property and it should be a solid single. Located within my comfort radius of my home. This required very minimal work and was acquired slightly below market value.

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

The buy and hold strategy is a wealth building strategy and this deal made sense for that. Also, I wanted to get the first deal under my belt and it is a solid one.

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

MLS used an escalation clause with my office and no contingencies. My offer was not the highest, but it was the cleanest.

How did you finance this deal?

Conventional Bank Financing

How did you add value to the deal?

This was close to a turnkey property.

What was the outcome?

Closed and one week later after screening about a dozen and a half people over the phone and showing it to a half dozen I signed the lease with tenant and he was moving in a week after closing.

Lessons learned? Challenges?

Learned the process of listing an ad, screening tenants, background checks, then lease signing.

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

Absolutely! I would recommend my real estate agent as he is an investor too and knows his space.