First Deal was New Construction in Moseley, VA

[George Damianeas]

Investment Info:

Townhouse buy & hold investment in Moseley.

Purchase price: $278,248
Cash invested: $75,375

Bought a new construction townhome in a high-end neighborhood with a 9/10 rated high school. Charging $2,250 in rent and paying $1,500 in mortgage and HOA.

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

Had a great realtor who shared this deal with me and walked me through the process

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

This deal came across my realtor's desk and she forwarded it to me. I ran the numbers in my pre-made excel sheet and the numbers worked. There was no negotiation with the builder but I got a discount because it was the last one to sell. I was able to get a seller credit because I financed through the builder.

How did you finance this deal?

I put down 25% on the deal by combining my savings and a small loan from my 401K.