First Rental Property

[Joseph Pack Jr]

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Hammond.

Purchase price: $185,000
Cash invested: $2,500

Rental estate for newbies.
I'm here to state that anything is possible as long as you have a plan and that you follow through with that plan. If you need guidance then I would recommend searching for either a righteous realtor or other RE investors. It all starts with knowledge of yourself, what you think, you will be. Im looking to expend my real estate portfolio to proceed with other business ventures.

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

What made me interested with investing into this deal was that it's actually in my mother's hometown and also, where I played college football at. So, I'm extremely familiar with the area, and its sort of developing so that's a huge plus.

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

If it wasn't for my realtor than I wouldn't have found this deal. This was my first property so, I was doing more listening and learning than talking. My realtor did an amazing job with explaining every single detail to me. Although I understood most of what he was saying because I educated myself on real estate investing before moving forward, he actually taught me some things I had no idea about. As far as negotiations, we were able to knock the pricing down because of some damages.

How did you finance this deal?

I financed this deal via FHA loan.

How did you add value to the deal?

N/A

What was the outcome?

N/A

Lessons learned? Challenges?

N/A

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

Realtor: Nicholas Williams
Baton Rouge, LA and surrounding areas