First Property while long distance investing

[Jacob Garror]

Investment Info:

Single-family residence buy & hold investment.

Purchase price: $79,999
Cash invested: $3,000

This is my first rental property I got in Mobile because I am from Mobile, Al and know the city pretty well.

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

The deal aligned with what I was looking for. A single family house in a neighborhood not to far from down town and a place where I can use section which pays well. Also because a lot of people look down on section 8 properties.

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

I found this deal on the MLS.

How did you finance this deal?

Navy federal conventional loan paying 3% down.

Lessons learned? Challenges?

Shop for insurance companies before you sign up with one.

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

no I did not